February 6, 2018 / 12:11 PM / 3 months ago

ADM profit rises on demand in agri, corn businesses and tax benefit

Feb 6 (Reuters) - Top U.S. grains merchant Archer Daniels Midland Co posted a rise in fourth-quarter earnings on Tuesday, helped by higher profit from its agricultural and corn processing businesses and a $249 million income tax benefit.

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. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Savio D’Souza)

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