Bunge's Fourth Quarter Rescues Year

NEW YORK - Feb 8/07 - SNS -- Bunge Limited reported net income of U.S. $264 million on sales of $7,683 million for the fourth quarter ending December 31, compared to a net of $149 million on sales of $6.753 million during the same three-month period one year earlier.

This lifted net earnings for the full 2006 fiscal year to $421 million on sales of $26,274 million, down from the previous fiscal year net of $530 million on sales of $24,377 million.

Alberto Weisser, Bunge's Chairman and Chief Executive Officer stated: "Bunge finished 2006 on a promising note. Our team did an excellent job of delivering results and produced strong second half performances in all of our operating segments.

"Over the past several months we have seen clear signs of improvement in the Brazilian agribusiness and fertilizer markets. There are still some challenges, such as the strong real, but higher commodity prices, large new corn and soybean crops and continued government support have improved farm economics in the country and should translate into more crop sales and larger fertilizer purchases in 2007. Steps taken in late 2005 and early 2006 to restructure our Brazilian businesses, lower costs and enhance our foreign currency risk management should position Bunge to benefit from improving Brazilian market conditions." Weisser said.

Subscribers can read the full text of the article by Clicking here