Bunge profit surges 112 percent on agribusiness improvement
2012-10-26 09:55:12
Bunge Ltd., which has operations in St. Louis, reported net income of $297 million for its third quarter ended Sept. 30, up 112 percent from the same quarter in 2011, due to improvements in the company's agribusiness segment.
Net sales in the agribusiness segment increased 20 percent to $12 billion during the quarter. Higher oilseed processing results were driven by North America, Europe and Asia, which experienced a challenging year-ago period, the company said. Also, the company's grain merchandising operations benefited from the combination of strong export demand and large South American grain supplies.
The company's net sales for the quarter increased 11 percent from the same quarter last year to $17.29 billion.
White Plains, N.Y.-based Bunge Ltd. (NYSE: BG), led by Chairman and CEOAlberto Weisser, reported revenue of $58.7 billion during 2011. Bunge North America, a food and feed ingredient company, is based in St. Louis. Soren Schroder is CEO of Bunge North America.