| | | Added to Ag microcap watchlist - ANFI
Amira Nature Foods announces $9M of contracts
May 23, 2019 8:10 AM ET
Amira Nature Foods (NYSE: ANFI) has entered into contracts worth ~$9M in revenue, to supply rice and institutional products to new customers in the Europe, Middle East, and Africa and Asia regions.
The benefit of this contract will be realized in fiscal year ending March 31, 2020.
“We are extremely pleased to announce this order, which along with our previously announced customer order of $42M, amounts to over $51M. This equates to securing 26% of our forecasted $200M of FY2020 revenue just 52 days (14%) into the fiscal year”, stated Karan A. Chanana, Amira’s Chairman
------------------------------------------------
Amira Nature Foods Ltd. provides packaged Indian specialty rice. The Company sells Basmati rice, premium long-grain rice under their flagship Amira brand as well as under other third party brands. It participates across the entire rice supply chain from the procurement of paddy to its storage, aging, processing into rice, packaging, distribution and marketing. Amira Nature Foods Ltd. is headquartered in Dubai, United Arab Emirates.
This is micro cap Natural Food company I have been watching (they specialize in rice). Another nich play that may/could be acquired by a larger distributor to establish a new natural brand.
Good Investing
EKS |
|
