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Alliance Grain Traders reports 6.6 million dollars in net profits for third quarter

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Alliance Grain Traders reports 6.6 million dollars in net profits for third quarter

Good news for pulse growers in the West: Alliance Grain Traders Income Fund, which processes lentils and beans, has reported a 6.6 million dollars for its third quarter, on sales of 107.9 million dollars.


November 19, 2008
By Canadian Press/Brandon Sun

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Toronto -Alliance Grain Traders Income Fund (TSXV: AGT.UN), a Toronto-based processor of lentils, beans and other pulse crops, reports that it earned a net profit of $6.6 million for the third quarter ended Sept. 30. Sales hit $107.9 million for that period.

The company said Tuesday it also earned profits of $5.3 million on sales of $72.3 million in the second quarter. Year-ago results were not included in Alliance Grain's earnings release.

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"Our new acquisitions are on-line and we continue to see positive results of our efforts to grow the fund," said Murad Al-Katib, president and CEO of Alliance and chairman of the board of trustees of the fund.

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