US: Rice firm Amira posts Q1 profit increase
Amira has reported a profit increase for the first quarter if the year
An increase in volumes sold globally has lead to rice manufacturer Amira Nature Foods posting a 25% increase in profits for the first quarter of 2014/2015.
For the period ended June 30, Amira reported a 24.7% increase in profits to US$9.3m versus $7.3m for the same period a year earlier.
EBITDA was up 30.9% to $19.1m. Sales increased 25.9% to $139m.
Karan Chanana, Amira's chairman and CEO, said: "Our strong first quarter performance reflects increased demand and a favourable pricing environment for our products - with gains in our core Indian and Middle East markets, as well as in developed markets, such as the US, the UK and Continental Europe where we continue to make inroads in these priority markets. We believe that fiscal 2015 will be a great year and we expect to meet our growth forecasts as we expand markets and distribution points around the world."
Shares in Amira were up 2.98% to $16.23 per share in after-hours trading yesterday (28 August).
The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global dairy food market during February....
The report provides a review of the mergers and acquisitions (M&As), partnering deals, and agreements entered into by companies active in the global bakery & cereals market during February....
- Why Mars rice plan not just crop-ticking exercise
- Greencore's food-to-go focus paying dividends
- ConAgra Foods: what could happen next? - analysis
- Interview: Ritter sees growth potential in US, EU
- How Danone aims to meet its 2020 objectives
- Pinnacle to buy Boulder Brands in $975m deal
- Aryzta regional CEO steps down
- Maple Leaf Foods to cut over 400 jobs
- Hovis plans cuts amid anxiety over UK bread demand
- Nestle combats Thai seafood supply forced labour