Stockwatch – The earnings before interest, taxes, depreciation and amortization (EBITDA) of pulse processor and exporter Alliance Grain Traders Inc (TSE:AGT, Mkt cap 518.31M, P/E 28.36, Div/yield 0.15/2.34, EPS 0.90, Shares 20.20M) during the second quarter of 2014 amounted to $24.4 million, the company announced in its financial results report for the period that ended 30 June. This is almost double compared to the $13.9 million reported in the same period a year ago.
Adjusted earnings per share saw an increase as well — to $0.44 ($0.43 fully diluted) for 2014’s second quarter, compared to $0.25 ($0.24 fully diluted) for the second quarter of the previous year.
The company’s net debt stood at $335.7 million as of 30 June 2014 — an improvement from the $369.4 million at 31 March 2014. Notably, cash flow from operating activities increased by $66.8 million.
In the announcement, Huseyin Arslan, Executive Chairman of AGT’s Board of Directors, said second quarter had been positive for AGT and all the operations the company’s engaged in.
Arslan added that the company’s facilities and assets, coupled with its strategy and global sales reach are starting to generate positive results for shareholder value. He believes the plans the company entertains for growth and expansion will help it reach new heights. The normalising trends, visible in the second quarter, are an optimistic sign.
AGT President and CEO Murad Al-Katib pointed to AGT’s pulses and grains segment, saying that it continues to generate strong results for the company, allowing it to make future growth and expansion plans. He also noted that customer demand for AGT’s products shows no signs of abating and that the North American harvest season will ensure serious production volumes.
Stockwatch – AGT is a leading exporter of split and value-added lentils, peas and pulses to the global food and ingredients markets. With processing plants in Canada, the United States, Australia and Turkey the Company is well positioned to serve the growing demand for these crops.
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