Viterra second-quarter profit more than doubles to $67 million ahead of takeover

June 12, 2012 - 8:27 AM

CALGARY - Canadian agribusiness Viterra Inc. (TSX:VT) says its second-quarter profit more than doubled, rising to $67 million from $30 million a year earlier.

On a per-share basis, Viterra earned 18 cents — up from eight cents a year earlier.

Viterra's profit was better than a consensus estimate of 12 cents per share.

Its adjusted earnings hit $185 million in the three months ended April 30, a record for the quarter and up 43 per cent from a year earlier.

The report comes as European commodities trading giant Glencore International prepares to complete its acquisition of the grain handler and farm supplier.

News from © The Canadian Press, 2012

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