Profits up at Alliance One

Source from:  tr.itsmyiq.com Aug 6, 2008 08/07/2008

Alliance One International reported net income of $15.3 million for the quarter ended June 30, 2008, compared with net income of $6 million for the prior year quarter. "While sales were essentially flat, gross profit, operating income and net income were improved versus the prior year quarter, reflecting our focus and execution on programs that drive consistent operating performance," said Robert E. Harrison, chief executive officer. "Looking forward, as long as global stocks remain in tighter supply and if crop competition dynamics escalate, it is anticipated that sales prices will continue to increase in order to offset higher green tobacco costs." Enditem