Alliance Grain profit misses expectations

Thu Nov 8, 2012 5:47pm EST
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* Adjusted Q3 EPS C$0.20 vs expected C$0.31

* Revenue up 10 pct

WINNIPEG, Manitoba Nov 8 (Reuters) - Alliance Grain Traders Inc, one of the world's biggest traders of legume crops, reported lower quarterly profit on Thursday, even as it said problems for its customers accessing credit were beginning to ease.

Adjusted net earnings for the third quarter ended Sept. 30 fell to C$4 million ($4 million), or 20 Canadian cents per share, from C$10.5 million, or 53 Canadian cents, a year ago.

Revenue for the Regina, Saskatchewan-based company rose 10 percent to C$210 million.

Analysts had on average expected Alliance Grain to earn 31 Canadian cents a share on sales of C$215.8 million, according to Thomson Reuters I/B/E/S.

Alliance is a processor and exporter of lentils, peas, beans and chickpeas with plants in Western Canada, the United States, Turkey, Australia, China and South Africa.