(SeeNews) - Jul 13, 2012 - US producer-owned cooperative CHS Inc (NASDAQ:CHSCP), which is involved in the biofuel, livestock, agriculture and food sectors, Thursday posted a net profit of USD 405.1 million (EUR 332m) for its third quarter through May, up 13% on the year.
Revenue for the period grew to USD 11 billion from USD 10.5 billion a year back. CHS noted that renewable fuels marketing revenues had dropped by 21% as a result of a 16% fall in the average selling price per gallon and 6% lower volume.
In the nine months between September 2011 and May 2012, CHS saw its net profit rise by 19% in annual terms to USD 899.7 million. Revenue jumped to USD 29.6 billion from USD 26.3 billion, thanks to improved values for the commodity energy and crop nutrients products, which represent the bigger portion of the company’s business.
(USD 1 = EUR 0.819)