Profits fall at Archer Daniels Midland

19 April 1999

Profits fall at Archer Daniels Midland

ARCHER Daniels Midland (ADM) saw after-tax profits slump to $11.7m in the third quarter, against $70.3m last time.

The US agribusiness group did not explain the drop but had warned two months ago about the impact of falling demand for meat products in Asia.

ADM had also expressed concern about the knock-on effect this was having on ADMs feed and livestock-related products.