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UNITED STATES

Alliance expects lower FY operating profit

08 Feb 2017. Alliance One International boosted the volume of leaf shipped to customers through nine months of its fiscal year but sold it for less, the company said.

Sales and operating profit for the year ending 31 March are expected to be lower than the year before, Alliance said. Full-year adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) was forecast between USD 145 million to USD 165 million. Last year the company reported adjusted EBITDA of USD 190 Million (EUR 178 million).

"While it is still early, as we look to next fiscal year, La Niña weather patterns that support better global growing conditions are present and should support crop size increases in a number of key markets,” said Chief Executive Officer Pieter Sikkel.

Through nine months, sales decreased 5.7 per cent to USD 1.1 billion. Volume sold rose 3.6 per cent to 251.6 million kg, Alliance said.