In Brief
(Reuters) — Archer Daniels Midland has posted a rise in fourth-quarter earnings, helped by higher profit from its agricultural and corn processing businesses and a US$249 million income tax cut.
Net earnings attributable to ADM rose to $788 million, or $1.39 per share, in the three months ended Dec. 31, from $424 million, or 73 cents per share, a year earlier.
Revenue fell to $16.07 billion from $16.50 billion.
ADM’s results come amid media reports that the grain trader is in talks to buy smaller rival Bunge Ltd.
ADM made no mention of such talks in its earnings statement.
