US food processor Bunge reported third-quarter net income of US$95m, or $0.96 per share, compared to $57m, or $0.76 per share in the same quarter of 2001.
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For the third quarter of 2002, gross profit increased 49% to $496m compared to the same period last year and income from operations rose 76% to $364m.
Sales volumes increased 1% and gross profit decreased 5% over the same period last year in Bunge’s food products division. Income from operations for the third quarter of 2002 increased 5% to $21m.
On a segment basis, gross profit and income from operations increased in the wheat milling and bakery products segment and in the other segment (consisting of corn products and soy ingredients), but declined in the edible oil segment.
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