Alliance One's Profit Increases

Source from:  Triangle Business Journal Wednesday, November 5, 2008 11/06/2008

Tobacco distributor Alliance One International saw higher profits in its fiscal second quarter, the company reported Wednesday. Morrisville-based Alliance One (NYSE: AOI) says it earned $20.4 million, or 23 cents per diluted share, in the quarter ended Sept. 30. A year earlier, the company earned $11.5 million, or 13 cents a share. Revenue increased, by nearly 2 percent, to $597 million. "We continue to identify cost savings and efficiency improvement opportunities that should also contribute to long term results," CEO Robert Harrison said in a written statement. "Our plan is solid and should deliver enhanced shareholder value." Alliance One purchases, processes and ships tobacco to 45 countries around the world. Its customers include the makers of cigarettes and other tobacco products. Enditem