February 5, 2019 / 12:11 PM / 8 months ago

Archer Daniels Midland quarterly profit slumps 60 pct

Feb 1 (Reuters) - U.S. grains merchant Archer Daniels Midland Co on Tuesday reported a 60 percent slump in fourth-quarter profit compared with the same period a year earlier when it recorded a tax gain.

Net earnings attributable to ADM fell to $315 million, or 55 cents per share, in the three months ended Dec. 31, from $788 million, or $1.39 per share, a year earlier, when the company recorded $249 million in tax gains.

Revenue fell to $15.95 billion from $16.07 billion. (Reporting by Arundhati Sarkar in Bengaluru)

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