Minneapolis-Cargill Inc., the majority shareholder in The Mosaic Co., reported the second best year in company history, despite the economic downturn. “The year was a tale of two halves,” said Greg Page, Cargill chairman and chief executive officer. “Cargill posted record results through November. In the second half, earnings slowed considerably as the world economy contracted for the first time in six decades. In the end, the net effect was the second-best year in our company’s history.” Cargill reported net earnings of $327 million in the fiscal 2009 fourth quarter ended May 31, down 69 percent from $1.05 billion in the same period a year ago. For the full fiscal year, Cargill earned $3.33 billion, a 16 percent decrease from a record $3.95 billion in the prior year. Revenues for the full year decreased 3 percent, to $116.6 billion. Cash flow from operations declined 6 percent, to $6.7 billion. Earnings in the industrial segment, which includes Cargill’s majority investment in Mosaic, were down significantly from the fourth quarter a year ago. The segment, however, pulled ahead of last year due to a strong first half.
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