Bunge''s profit falls 33% in the second quarter; for $ $81 million

Bunge has obtained $ $81 million net income, or $ $0.48 per share, in the second quarter of this year, the company reported on Wednesday. The result represents a fall of 33% compared with the same period last year, when the company had a profit of $ $121 million, or $ $0.81 per share. In terms adjusted profit went from $ $0.79 to $ $0.17 per share. Net sales increased 10.5%, to $ $11.65 billion.
The adjusted operating profit the agribusiness segment was $ $18 million in the second quarter, one-tenth of registered a year before. Within this segment, the oil profits fell from $ $56 million to $ $2 million, while profit rose from $ $124 million beans for $ $16 million.
According to Bunge, the poor performance can be attributed mainly to the strength of the Brazilian farmers in marketing your production for trading companies, which pressured the banks along the chain. Last month, Bunge had already alerted the market that your profit in the second quarter would be below expectations.
The CEO of the company, Soren Schroder, said to expect a significant improvement in the second half, but noted that there are still some obstacles. According to him, despite strong demand for oil and soybean meal, the ample supply during the second quarter resulted in a surplus of soybean meal you should press the company''s margins in the third quarter.