North West Terminal has posted impressive financial results for the first six months of operations in 2011-12.
From Nov. 1, 2011 to April 30, 2012, the company posted revenues from consolidated operations of $68.1 million and an EBITDA of $5,998,186 (unaudited), for a net profit of $3,199,131 or 98 cents per share.
That compares to the same period last year when the company posted revenues of $52.4 million, an EBITDA of $4,559,341, and a net profit of $2,091,910 or 64 cents per share.
The increase is being cited primarily due to increased production and improved margins for its bio-products operations.
This latest report is more good news from the independent farmer shareholder owned company, headquartered in Unity.
The company owns both the inland grain terminal and a biolfuels-DDGS production facility at that location.
The latest financial results from the company, issued July 2, builds on previous good news from the company in late February.
At that time the company reported that from Nov.1, 2010 to Oct. 31, 2011, there were net revenues from consolidated operations of $116.1 million, an EBITDA of $11,230,462, and a net profit of $5,691,079.
In a statement, NWT president John Leier said the board of directors was proud of the company's performance in the first half of the year.
"We have been working hard over the past 10 years to diversify North West Terminal and to prepare for a possible change to the Canadian Wheat Board's monopoly," said Leier.
"Now that day is fast approaching, we feel we are ready for the challenges ahead. NWT is well positioned as a locally owned company to continue providing superior service and marketing options to its customers going forward."
