Quarterly loss for AOI

| August 11, 2013

Alliance One International reported a net loss of $36.9 million for the first quarter that ended June 30. In the comparable 2012 quarter, the company posted a net loss of $30.7 million.

Revenues for the quarter improved $26.1 million to $383.9 million versus last year. Total kilos sold, at 76.3 million, was similar to last year’s quarter, generating $370.7 million in tobacco revenues and $13.2 million in processing and other income.

Alliance One President and CEO Pieter Sikkel expects volume and revenue for the full year to be better than that recorded last year, due to anticipated customer shipping schedules.

“Our first fiscal quarter is usually a lower-revenue quarter in comparison to other quarters during the year, based on the timing of crops from the growing regions where we source tobacco,” he said. “This year’s first quarter is consistent with past experience.”

Sikkel said the company’s quarterly performance had been affected by several factors, including restructuring expenses, disappointing recoveries of advances to tobacco suppliers in Zambia and the appreciation of the Malawi kwacha and other currency versus the U.S. dollar.






Category: Breaking News

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