The board of directors of North West Terminal Ltd. has announced positive financial results for the company after its first six months of operations in 2014-15.
For the period beginning Nov. 1, 2014 and ending April 30, NWT posted revenues from consolidated operations of $82.7 million and an EBITDA of $4,280,998 (unaudited). This resulted in a net profit of $1,982,281, or 60 cents per share.
The financial performance of the company is slightly behind the same period last year when NWT posted revenues from operations of $68.5 million, an EBITDA of $4,730,669 and a net profit of $2,158,882, or 66 cents per share.
Management reports earnings were down from the previous year primarily because of reduced crude oil prices that have resulted in reduced ethanol prices and an overall reduction in margins for the bio-products division.
“The board of directors is pleased with the company’s performance in the first half of the year,” says NWT’s president Brad Sperle. “While the Company is off to a good start to the fiscal year, we are proceeding very cautiously because of the dryness in the region and the potential for reduced crop yields.”
