August 9, 2012

Alliance Grain's net earnings up as of June 30

Alliance Grain Traders' net earnings for the quarter ended June 30 rose to CAD1.7 million (US$1.71 million), or CAD0.08 (US$0.08) a share, from a net loss of CAD3.9 million (US$3.92 million), or CAD0.20 (US$0.20), a year earlier.

Alliance Grain Traders Inc., one of the world's biggest traders of legume crops, reported a return to second-quarter profit on Wednesday (Aug 8), and said it saw signs of restored demand.

Revenue for the Regina, Saskatchewan-based company rose 19% to CAD201.8 million (US$203.06).

Analysts had on average expected Alliance Grain to earn CAD0.09 (US$0.091) a share on sales of CAD190 million (US$191.2 million), according to Thomson Reuters.