This article originally ran in the St. Louis Business Journal on February 11, 2021.
Chestefield-based agriculture, food and ingredients company Bunge Ltd. (NYSE: BG) reported 2020 revenue of $41.4 billion in 2020, up slightly from the prior year’s total of $41.1 billion.
But the big swing came from the company’s profits, which improved to $1.15 billion last year from a loss of $1.3 billion in 2019, according to an annual report released Wednesday.
The biggest gain the company reported came in the fourth quarter ended Dec. 31 in its agribusiness unit. Bunge said that segment’s revenue grew more than 25% in the fourth quarter to $9.3 billion. Bunge officials said the gain was driven by higher agribusiness margins globally and oilseed margins in North America. As a result, net income in the fourth quarter improved from a $51 million loss in 2019 to a profit of $551 million in 2020.Read More