January 29, 2020 / 9:29 PM / 21 days ago

ADM quarterly profit surges 60%

Jan 29 (Reuters) - U.S. grains trader Archer Daniels Midland Co on Wednesday reported a 60% rise in quarterly profit from last year which included a bigger asset impairment and restructuring charge.

Net earnings rose to $504 million, or 90 cents per share, for the fourth quarter ended Dec. 31, from $315 million, or 55 cents per share, a year earlier.

Total revenue rose 2.4% to $16.33 billion. (Reporting by Arunima Kumar in Bengaluru and P.J. Huffstutter in Chicago; Editing by Shinjini Ganguli)

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