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CPI profit tails off

This article was originally published in The Public Ledger

CORN Products Intern-ational saw its third quarter profit fall to $53m, 40% lower when compared with $88m a year before due to higher net maize costs and lower volumes. It cut its full-year earnings outlook to $1.80 to $2.00 per share, from an earlier range of $1.70 to $2.10 per share, reflecting poor demand in North America and Asia, which will not be offset by favourable currencies and better prices of co-products.

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