USA: American Rice sees profit turnaround in nine months ended 30 June
Houston-based American Rice Inc (ARI), one of the largest rice millers and marketers of branded rice products in the US, has posted a net profit of US$2.2m or US$0.46 per share on sales of US$93m during the nine months ended 30 June. This is a substantial improvement from the loss of US$1.2m (US$0.25 per share) on sales of US$114.6m for the nine months ended 30 June 2001. Gross profits as a percent of sales has increased from 12.5% to 19.1%.
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