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Amira Nature Foods Gains 29%, Boosts FY15 Outlook

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Amira Nature Foods Ltd (NYSE: ANFI) shares gained nearly 29 percent Wednesday after the Indian specialty rice supplier boosted its 2015 outlook, citing market expansion in India and internationally.

Amira, which sells Basmati long-grain rice in 60 countries, changed hands recently at $12.57, up 28.3 percent. Shares are off 20 percent year-to-date.

The company expects 2015 revenue growth of 25 percent, up from its November forecast of 20 percent revenue growth.

Revenue in 2014 grew 32.3 percent to $547.3 million, suggesting a 2015 forecast of $684.1 million; analysts, on average, expect 2015 revenue of $688.47 million.

The company also forecast growth of 25 percent for its adjusted earnings before interest, taxes, interest depreciation and amortization.

Amira's adjusted EBITDA in 2014 grew 44 percent to $75.5 million, suggesting a 2015 forecast of $94.4 million.

Posted-In: News Guidance Intraday Update

 

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