US-listed rice supplier Amira Nature Foods has lifted its forecasts for annual sales and adjusted EBITDA, thanks, it said, to continued international expansion.
The company now expects revenue and adjusted EBITDA to both grow by more than 25% in the 12 months to the end of March. In November, Amira forecast increases of “in excess of 20%”.
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Announcing the new forecasts on Christmas Eve, Amira pointed to “ongoing distribution gains and market expansion across India and our international markets”.
On 29 December, meanwhile, Amira revealed it had struck a US$90m contract to supply “third-party branded basmati rice” to a “key repeat customer” for its Europe, Middle East and Africa business.
Amira’s most recent set of financial results came in November when it reported numbers for the six months to the end of September. Revenue was up 28.4% at $280.2m. Adjusted EBITDA grew 35.1% to $38.8m.
Profit after tax attributable to shareholders of Amira increased 42.9% to $15.6m.
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By GlobalDataClick here for an interview with Amira business development director Tobias Strerath, whom just-food met at the SIAL trade show in Paris in October.
