Amira Nature Foods has recorded an increase in first-quarter earnings and reiterated its full-year profit and sales guidance.
Earnings reached US$7.3m in the six months to the end of June. This compared to a net profit of $3.3m in the year ago period. EBITDA increased 42.4% to $14.5m.
Sales were up 37.6% to $110.3m, primarily due to increased sales volume and prices both in India and internationally.
“In fiscal 2014, we believe we are positioned to benefit from the progress we made to our business last fiscal year, including the addition of new customers in both India and internationally and an expanded geographic footprint,” said CEO Karan Chanana.
The company reiterated its previously issued guidance of sales in the range of $480m to $507m and EBITDA in the range of $62m to $66m.
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