Bunge profit drops due to charges
-
- February
- 7
Bunge Ltd., the White Plains company that processes oilseeds and sells fertilizer, margarine and other products, said this morning its profit dropped 12 percent to $230 million during the fourth quarter of last year, largely due to the costs of closing facilities in the United States and Europe and other charges.
On a per-share basis, the company earned $1.82, a 14 percent drop from the $2.12 the company reported for the last quarter of 2006.
The company said the results for the last quarter of 2007 included $25 million of charges related to the closing of the processing centers. The total segment operating loss, which includes one-time gains and charges, was $95 million.
Sales rose 82 percent to $14.02 billion, the company said.
Bunge shares closed yesterday at $123.58, up $2.24. The shares are up 6.16 percent on the year.
This entry was posted
on Thursday, February 7th, 2008 at 9:39 am by Allan Drury.
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