REGINA – Alliance Grain Traders Inc. (TSX:AGT) earned a second-quarter profit of $1.7 million compared with a loss a year ago and said Wednesday that its North American crops looked positive this year.
The pulse and specialty crop company said the profit amounted to eight cents per share compared with a loss of $3.9 million or 20 cents per share a year ago.
Get weekly money news
Sales totalled $201.8 million, up from $169.9 million in the second quarter of 2011.
AGT president and chief executive Murad Al-Katib said the impact of weather conditions on production, such as drought in some regions and flooding in others, is being felt elsewhere this season.
- Country Thunder cancels Calgary concert, blames noise bylaw and construction
- Half of Calgary Chamber members would consider leaving if Alberta separates: poll
- Calgary Transit unveils new light rail vehicles that go into service this week
- These are the 15 most affordable cities in Canada, Royal LePage says
“This year, our North American crops look very positive, as we have been relatively unaffected by the drought conditions discussed in the media,” he said.
“We expect an increase in the average cost of protein globally, as a result in part of drought impact on U.S. corn and soybeans and a short monsoon season in India.”
Comments
Want to discuss? Please read our Commenting Policy first.