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Alliance Grain Traders Announces Q4 and Year End 2012 Results and Dividend

Alliance Grain Traders Inc. (AGT.TO) said revenue was $855.3 million for the year ended December 31, 2012 compared to $760.0 million a year earlier and was $247.2 million for the unaudited three months ended December 31, 2012 compared to $231.5 million a year earlier. Quarterly EBITDA was $12.5 million compared to $9.2 million and $39.4 million for the year compared to $47.6 million for the previous year. It declared a dividend of $0.15 per share for the quarter ($0.60 per share on an annualized basis).

"Recovery in global pulse and staple foods markets is proceeding as we expected. We are optimistic we will see this gradual recovery continue in 2013, in the first half of the year and leading into a new North American harvest in the fall. While the macroeconomic headwinds in emerging markets are dissipating, with currency stabilizing and credit liquidity improving, normalization of product imports, we feel, will come back to more traditional levels in the near term as local market stocks are estimated to be very low. This may result in higher export levels from Canada, the U.S. and Australia, as well as an increase of the utilization of the assets in our global system, providing potential for increased earnings and improved margins," said Mr. Murad Al-Katib, President and CEO of AGT. "We started to see signs of demand improvements late in 2012. These signs have continued and the new year appears to have started well, which we feel supports our view of gradual recovery of our business in 2013. We feel improvement in our core pulses and staple foods business that we see coming in the near term, in addition to the potential we see in our new ingredient business for flours, proteins, starches and fibres used in food, feed and pet foods, demonstrates the strength AGT has built in our diversified business. We are optimistic about the opportunities for AGT in the coming periods."

Alliance Grain Traders is a value-added pulse, staple food and ingredient processor for export and domestic markets.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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