The board of directors of North West Terminal Ltd. has announced a net profit of $6,722,058 for the period Nov. 1, 2013 to Oct. 31, 2014, or 2.05 per share.
NWT also posted net revenues from operations of $143.2 million and an EBITDA of $11,713,771 for the same period.
It represents an improvement over numbers from the same period a year earlier, when the net profit was $4,762,492 or $1.45 per share, with revenues from operations of $134.2 million and an EBITDA of $9,136,654.
According to the news release from the Unity-based company, management reported earning were up because of increased shipping and improved margins in the grain division. The increase in profits was also helped by dividends from investments, and revenue from a leasing arrangement for the purpose of trans-loading oil, according to the company.
In a statement NWT president John Leier was pleased with the results.
“It was a challenging year as we experienced significant shipping delays last winter which reduced returns,” said Leier.
“On behalf of the board of directors, I want to congratulate all the staff andf management of North West on a job well done during the past fiscal year. Their hard work and dedication is the reason why we had a record year.”
