ALH, the parent of Alliance Laundry Systems and its brand portfolio, published its results to 31 December 2009, in March.
These show that net income rose 7% to $16.6million. Earnings before interest, taxes, depreciation and amortization rose by $6.4m to $78.4m. The company said it offset lower gross profit with lower interest expense, lower operating expenses and a lower provision for income taxes.
Net revenue declined to $400.2m in 2009 from $451m previously.
Thomas L’Esperance, chief executive officer at Alliance Holdings says that the Alliance team responded in an extraordinary way to the state of the economy. “We delivered record profits, improved our liquidity position and dramatically improved our balance sheet.”
