Alliance Reports $45.6 million First Quarter Sales

Alliance, an international tyre manufacturer based in Hadera, Israel, reported a 23 per cent growth in sales for the first quarter of 2007. First-quarter sales reached US$45.6 million, compared to $37.1 million in the parallel quarter of 2006. In addition, Alliance sales to the export market, representing 78.7 per cent of the company’s total sales, amounted to $35.9 million in the first quarter, compared to $29.4 million in the first quarter of 2006, a growth of 22.3 per cent.

European orders for agricultural tyres accounted for 72.1 per cent of the exports, or $25.9 million. Exports to Europe grew by 31.4 per cent in the first quarter of 2007 compared to the first quarter of 2006.

Back orders totalled $40.5 million on March 31, 2007, more than double the $17.5 million from the first quarter of 2006. First-quarter net profit totalled $1.4 million compared to net profit of $1.6 million in the first quarter of 2006. Operating profit for the first quarter of 2007 was 8.1 per cent, or $3.7 million, compared to $1.7 million or 4.5 per cent in the first quarter of 2006.

Joseph Anglister credited the growth in operating profit to high volumes of orders and high productivity kept cost-per-ton. “We are investing in enlarging our range of products, introducing more sizes and developing even more high-tech tires to serve the valuable agricultural, OTR and forestry markets,” Anglister said.

Alliance exports to more than 65 countries around the world including markets in Europe, the USA, Japan and Latin America.