Continued Earnings Growth at AOI

Source from:  Tobacco Reporter 06/10/2009

Jun 9, 2009-Alliance One International reported net income of $132.6 million in the fiscal year that ended on March 31, 2009. This was up from $16.9 million in the prior fiscal year. Sales and other operating revenue increased 12.3 percent to $2,258.2 million in 2009 as the result of a 25.3 percent increase in average sales prices and a $7 million increase in processing and other revenues in response to increased green tobacco and processing costs partially offset by a 10.4 percent decrease in quantities sold. "By all measures Alliance One had a very solid year that fully met our expectations," said CEO Robert E. Harrison. "Our global and talented workforce executed extremely well against our plans in a turbulent environment, both from a supply and demand standpoint as well as from a highly volatile foreign exchange environment. "Heading into the coming year, our balance sheet is in good shape with strong liquidity and is well positioned to support future growth." Enditem