Glencore in 47 pct Q1 profit jump to $1.3 billion

GENEVA (AP) — Commodities giant Glencore International PLC announced a 47 percent rise in first-quarter net profit Tuesday, as the company's first quarterly report since going public coincided with healthy demand for raw materials such as oil, metals and agricultural products.

The Swiss-based company said earnings during the first three months reached $1.3 billion, compared with $886 million during the same period last year.

"The second quarter seems to be tracking pretty well the first quarter," Chief Executive Ivan Glasenberg told reporters in a conference call.

Revenues rose 39 percent to $44.2 billion compared to the January-March period of 2010.

Still, the …