North West Terminal Ltd. has announced a net profit of $5,691,079, or $1.74 per share from 2010-11 operations.
For the period beginning Nov. 1, 2010 and ending Oct. 31, 2011, NWT posted net revenues from consolidated operations of $116.1 million and an EBITDA of $11,230,462.
The financial performance of the Company is ahead of the same period last year when the company posted revenues from operations of $86.9 million, an EBITDA of $6,990,945 and a net profit of $2,072,615, or 63 cents per share.
Management reported earnings were up from the previous year primarily because of improved margins in its bio-fuels operations.
"The board of directors is very pleased with the company's performance," says NWT's vice-president John Leier.
"It's good to see both of our business lines operating well; especially with the uncertainty that exists in the global economy and the changes coming to the grain industry. We are pleased with our strategic shift into value-added processing and want to continue pursuing opportunities that create new markets and value for our customers."
