Monsanto profit rises on seed sales

? Agriculture biotechnology leader Monsanto Co. said Wednesday its second-quarter profit more than doubled, reflecting fewer restructuring charges and growth in its seeds business.

The St. Louis-based maker of Roundup herbicide and genetically modified seeds said net income jumped to $373 million, or $1.37 per share, in the three months ended Feb. 28. That compares with $154 million, or 57 cents per share, a year earlier.

Earnings from continuing operations were $371 million, or $1.36 per share, in the December-February quarter. The company said profits were lowered by about 2 cents per share because of restructuring charges, compared with year-ago charges of 12 cents per share.

Monsanto shares rose 77 cents, or 1.26 percent, to close at $61.75 on Wednesday on the New York Stock Exchange.