North West Terminal Inc. has announced positive financial results for its first six months of operation in 2013.
The board of directors announces that for the period beginning Nov. 1, 2012 and ending April 30, NWT posted revenues from consolidated operations of $71.8 million and an EBITDA of $6,159,862 (unaudited). This resulted in a net profit of $3,511,008, or $1.07 per share.
The financial performance of the company is ahead of the same period last year when the company posted revenues from operations of $68.1 million, an EBITDA of $5,998,196 and a net profit of $3,199,131, or 98 cents per share, according to a press release. Management reported that earnings were up from the previous year primarily because of improved margins in the bio-products division, dividends from investments and increased revenue from a leasing arrangement for the purpose of trans-loading crude oil.
"We have seen significant changes in the grain industry and the way wheat and barley are marketed with the removal of the Canadian Wheat Board's monopoly on Aug. 1, 2012," says NWT's president John Leier.
"I believe North West Terminal has made the necessary adjustments to meet these new challenges and I feel we are well positioned as a locally owned company to continue providing superior service and marketing options to our customers." LLcanola.jpg
