Bunge reports profit on strong processing margins
CHICAGO Feb 13 (Reuters) - Bunge Ltd, one of the world's largest agricultural trading houses, on Thursday reported a fourth-quarter profit due to strong margins for oilseed processing.
Bunge reported net earnings of $115 million, or 78 cents per share, compared with a year-earlier net loss of $610 million, or $4.17 per share.
Revenue fell to $16.38 billion from $17.04 billion.
Oilseed processing margins were strong in North America, Europe and China due to robust demand, large harvests and a lack of exports from South America, which is typically a large oilseed supplier, according to the company.
Global demand should remain strong because falling crop prices will encourage livestock producers to buy oilseeds, which can be crushed into animal feed, Chief Financial Officer Drew Burke said.
Bunge is among the four large players known as the "ABCD" companies that dominate the flow of agricultural goods around the world. The others are Archer Daniels Midland Co, Cargill Inc and Louis Dreyfus Corp.