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Cargill 3rd-qtr profit jumps on food ingredient, protein demand

CHICAGO, March 29 Global commodities trader Cargill Inc on Wednesday reported a sharply higher quarterly profit led by strong results from its food ingredients and animal protein businesses.

The privately held company said adjusted operating earnings rose 50 percent to $715 million in the third quarter ended Feb. 28, from $476 million in the same quarter a year earlier.

Excluding one-time items, quarterly net income climbed to $650 million from $459 million a year earlier.

Revenue rose 8 percent to $27.3 billion. (Reporting by Karl Plume in Chicago; Editing by Jeffrey Benkoe)

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