Seaboard parentÆs earning increase
Seaboard Corp., the parent company of Seaboard Marine, had a 10.5 percent in its net income during the second quarter, helping to offset an income decrease in the first quarter.
Seaboard Corp., which does not break out its shipping results from other units when it releases quarterly earnings statements, said its net income for the quarter increased to $69.2 million, up from $62.6 million for the quarter in 2005. For the first half of the year, net income was down 8 percent to $120.7 million. Total revenue for the first half dropped 8.7 percent to $1.3 billion.
In addition to its shipping operations, Seaboard Corp. has extensive international agribusiness operations, ranging from overseas commodity merchandising to flour and feed milling, sugar production, and electric power generation. It is also a major domestic pork producer and processor.