Cargill Q1 Earnings Up 62 Pct

Cargill Inc said Monday that it's first quarter 2008 earnings posted a 62 percent rise, led largely by its industrial business. Earnings rose to $1.49 billion in the first quarter ended Aug. 31 from $917 million a year earlier, they said.

Cargill said the company's earnings received a substantial boost from its investment in the fertilizer industry through it's majority stake in Mosaic Co., in which Cargill holds a 65 percent share.

First-quarter earnings were down in Cargill's three other business segments: agricultural services, food ingredients and applications, and risk management and financial.