United States - Bunge's sugar business turns to profit in Q1
2013-04-30 10:14:34
Bunge Ltd.'s sugar and bioenergy segment, which has struggled to generate consistent profits since Bunge bought its first Brazilian sugar mill in 2007, reported earnings before interest and tax (EBIT) of $23 mln in the first quarter ended March 31 of the current fiscal, versus a $33 mln loss a year ago.
The segment posted sales growth of 26% to $1.113 bln from $881 mln in Q1 2012. Sales volume in the sugar and bioenergy segment in the first quarter of 2013 was 2.303 mln tonnes, up sharply from 1.331 mln in the corresponding period a year ago.