White Plains, N.Y. — Bunge Ltd. reported that its fertilizer business had a first-quarter adjusted earnings before interest and tax of $3 million on sales of $66 million, compared to the year-ago loss of $12 million on sales of $63 million. Volumes were up as well, to 135,000 mt from the 124,000 mt. The company said that the pending sale of its Brazilian fertilizer business to Yara International ASA is on track to occur this year. It said results from its ongoing fertilizer operations were higher in both Argentina and from its Moroccan joint venture. Bunge-wide, net income attributable to Bunge almost doubled, to $180 million ($1.15 per share) on sales of $14.8 billion, up from the year-ago $92 million ($0.57 per share) on sales of $12.9 billion.
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