North West Terminal Ltd. (NWT) has announced positive financial results for the company after its first three months of operations in 2011-12.
For the period beginning Nov. 1, 2011 and ending Jan. 31, NWT posted net revenues from consolidated operations of $34.5 million and an EBITDA of $3,182,454. This resulted in a net profit of $1,606,292, or 49 cents per share.
The financial performance of the company is ahead of the same period last year when NWT posted revenues from operations of $25.2 million, an EBITDA of $1,892,815 and a net profit of $890,511, or 27 cents per share. Management reported earnings were up from the previous year primarily because of increased shipments from both its grain and bio-fuels operations.
"The board of directors is very pleased with the company's performance in the first quarter," says NWT's president Jim Skinner.
"These are interesting times with the changes currently taking place in the agriculture industry; the elimination of the CWB's monopoly and the takeover of Viterra. NWT is well positioned as a locally owned company to continue providing superior service and marketing options to its customers going forward."
