Bunge Profits Slide

NEW YORK - Apr 28/06 - SNS -- Bunge Limited reported net earnings of U.S. $58 million on sales of $5,601 million during the first quarter ending March 31, compared to a net of $98 million on sales of $5,451 million during the same three month period last year.

In releasing the results, the company said it handled 24.9 million metric tons (MT) of agricultural products during the quarter, down from 26.5 million last year.

Bunge's results included certain gains and charges that may be of interest to investors. These charges totaled $18 million, or $0.15 per share, in the quarter ended March 31, 2006. In the quarter ended March 31, 2005, the gains totaled $19 million, or $0.16 per share.

Volumes were lower due principally to slow farmer selling in South America and reduced Argentine grain crops. Freight management results were negative. In Brazil, a stronger real increased local costs and reduced results when translated into U.S. dollars, despite lower local currency costs.

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