Monsanto profit jumps, raises 2008 forecast

Agricultural company Monsanto Co said on Thursday its quarterly profit nearly tripled, helped by strength in its corn seed and herbicide businesses, and raised its 2008 forecast.

Net income rose to $256 million, or 46 cents per share, in the first quarter ended Nov. 30 from $90 million, or 16 cents per share, a year earlier.

That profit beat both the company's and analysts' forecasts for earnings of 35 cents per share, according to Reuters Estimates.

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- Posted: 2008-01-03 09:25:05

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