July 16, 2020 / 4:37 PM / 23 days ago

UPDATE 1-Cargill fiscal 2020 revenue rises 1% to $114.6 billion

(Adds details on meat plant closures, background)

CHICAGO, July 16 (Reuters) - Global commodities trader Cargill Inc said on Thursday its revenue for fiscal 2020, which ended on May 31, rose to $114.6 billion, up 1% from the prior year.

For the first time since 1996, the privately held company halted public reporting of most of its quarterly and annual financial data this year.

Cargill reinvested, on average, 80% of operating cash flow back into the company, it said in an emailed statement.

The revenue bump was Cargill’s third in the last four years, after U.S. flooding and the U.S.-China trade war sliced revenues by 1% in fiscal 2019, according to company disclosures.

The supply chains of agricultural commodities traders have been upended again as the coronavirus pandemic forced meat packers and biofuel producers to halt production while stoking demand for at-home meal ingredients.

Outbreaks forced closures of some Cargill facilities, including a Alberta beef plant that produces patties for McDonald’s restaurants.

Cargill said all of its North American beef plants have reopened as of early June with “enhanced safety procedures.”

Reporting by Karl Plume in Chicago, Editing by Franklin Paul and Richard Chang

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