Agricultural commodities group Bunge has booked a 30% jump in first quarter operating profit, boosted by the “good start” made by its food and ingredients business.
In a regulatory filing yesterday (25 April), Bunge said that EBIT climbed to US$323m in the first three months of the year, up from $200m in the comparable quarter of 2012. Net income rose to $170m, up from $84m last year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Gains were driven by higher revenue, which rose to $14.78bn in the three months from $12.9bn last year.
“We had a solid first quarter. Our agribusiness team performed well, managing risk in a volatile market environment charactersed by tight global supplies and challenging Brazilian logistics. We are pleased to see sugar & bioenergy get off to a good start to the year, and that food & ingredients continued its strong performance from the second half of last year,” chairman and CEO Alberto Weisser commented.
