Record sales for food and feed company Land O’Lakes
US agribusiness giant Land O’Lakes has increased its sales with 6.6% to $4.04 Billion in the second quarter. Net Earnings were $96.4 Million, up 27% from the second quarter last year.
Land O'Lakes today operates some of the most respected brands in agribusiness and food production including Land O'Lakes® Dairy Foods, Purina Animal Nutrition and WinField (crops). The company improved financial performance across all businesses.
Crop Inputs, operated under the Winfield Solutions business, reported a strong second quarter and first-half performance with a focus on delivering solutions to farmers which improve on-farm productivity, profitability and sustainability. Continuing to build its presence in the precision agriculture segment, WinField's gains are partly due to higher product sales for alfalfa and soybeans as members expanded their acreage for these crops.
Animal Nutrition, operated under the Purina Animal Nutrition business, reported strong second quarter and first-half performance with high volumes and margins throughout its lifestyle and livestock portfolios. Animal Milk Replacer reported strong sales volume increases and margin expansion. Results from the company's premix business, NutraBlend, were also favourable.
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