Posted on 23/07/08
Agriculture product growth boosts DuPont profit
Chemical maker DuPont Co. posted higher-than-expected quarterly earnings yesterday as increased product prices and strong demand for its corn and soybean seeds offset weakness in the domestic housing and automotive markets. DuPont also raised the lower end of its full-year 2008 outlook. Second-quarter profit increased to $1.08-billion (U.S.), or $1.18 a share, from $972-million, or $1.04, a year earlier. Excluding gains from a litigation settlement and a lower tax base, earnings were $1.11 a share, higher than Wall Street's expectations of $1.07. Revenue rose 12.2 per cent to $8.84-billion. DD (NYSE) rose $1.16 to $45.21.
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