USA: Riviana Foods reports fall in Q1 earnings
US rice products maker Riviana Foods has reported lower first-quarter earnings, partly due to higher domestic rice costs. The Texas-based company reported earnings of US$5.9m for the first quarter to 28 September, compared to earnings of $6.3m in the year-ago period. Sales increased to $104.4m from $95.2m a year earlier, while operating profit was $7.9m, compared to $8.8m a year earlier.
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