Bunge Posts First Quarterly Loss Since It Became Public
My old company Bunge Ltd has posted its first quarterly loss since it became a publicly traded company in 2001.
The company lost $210 million, or $1.89 a share, in its Q4 2008 results - compared to net income of $245 million, or $1.82, a year earlier.
Still, 2008 hasn't exactly been a bad year for Bunge. Alberto Weisser, Chairman and Chief Executive Officer said in a public statement, “In 2008, Bunge produced record results in one of the most volatile years in recent memory. We earned over $1 billion in net income for the first time and produced $2.5 billion of cash flow from operations. We start 2009 with a comfortable liquidity position and a strong balance sheet. The weak global economy will pose challenges, but we see reasons to be optimistic that conditions for our industry will improve during the course of the year."
The company lost $210 million, or $1.89 a share, in its Q4 2008 results - compared to net income of $245 million, or $1.82, a year earlier.
Still, 2008 hasn't exactly been a bad year for Bunge. Alberto Weisser, Chairman and Chief Executive Officer said in a public statement, “In 2008, Bunge produced record results in one of the most volatile years in recent memory. We earned over $1 billion in net income for the first time and produced $2.5 billion of cash flow from operations. We start 2009 with a comfortable liquidity position and a strong balance sheet. The weak global economy will pose challenges, but we see reasons to be optimistic that conditions for our industry will improve during the course of the year."
