Bunge Reports $411 Million Annual Profit

WHITE PLAINS - Feb 3/04 - SNS -- Bunge Limited's fourth quarter did not significantly outperform last year, but the year's results saw significant gains, with net profits leaping 61% to $411 million for the year ending December 31.

Fourth quarter profits stood at $100 million, an improvement on the $97 reported the previous year. Fourth quarter sales were much higher, advancing 37% to $6,358 million. This helped lift fiscal 2003 sales 60% above the previous year to $20,165 million.

Both sales values and trading margins showed clear improvement, as annual tonnage handled was up 25% at 107 million metric tons (MT); while fourth quarter handle advanced from 26.5 million MT in 2002 to 27.6 million in 2003.

In releasing its financial results, the company said results for the quarters and years ended December 31, 2003 and 2002 include certain charges and gains that may be of interest to investors. These items totaled $(66) million, or $(0.66) per share, and $57 million, or $0.56 per share, for the quarter and year ended December 31, 2003, respectively, and $(4) million, or ($0.04) per share and $(24) million, or $(0.25) per share for the quarter and year ended December 31, 2002, respectively.

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