Adds particulars, compares with estimates
Adds particulars, compares with estimates
Feb 12 (Reuters) – U.S. grain dealer Bunge Ltd BG.N reported a better-than-expected quarterly revenue on Wednesday, because it centered on bettering phase margins throughout its companies, sending its shares up about 3%.
Bunge and its agribusiness friends Archer Daniels Midland Co ADM.N, Cargill Inc CARG.UL and Louis Dreyfus Co LOUDR.UL, hit by a years-long crop provide glut, have been looking for to shed poor-performing property and spend money on companies with potential for larger revenue margins.
In its agribusiness phase, extra oil demand boosted gross sales of sentimental seeds and drove larger ends in South America, the corporate mentioned.
Larger gross sales in Argentina additionally helped the corporate’s grains unit report constructive adjusted earnings earlier than curiosity and tax (EBIT) margins in contrast with a detrimental margin final 12 months, the corporate mentioned.
Adjusted EBIT for the agribusiness rose over three-fold to $177 million within the fourth…