Bunge corrects net sales for full-year 2007

by FoodBusinessNews.net Staff
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WHITE PLAINS, N.Y. — Bunge Ltd. has revised its net sales and cost of good sold for the full-year 2007. The company announced corrections reducing net sales and cost of good sold by $7 billion from what was previously reported on Feb. 7.

Bunge is now reporting net sales for the year of $37,842 million, down from a previously reported $44,804 million. The revised number was up 44% from $26,274 million in net sales during the previous year.

The errors did not have an impact on the previously reported volumes, gross profit, segment operating profit, net income or earnings per share, or on the consolidated balance sheets or statements of cash flows.

The company identified the problem in its year-end closing process.

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