North West Terminal Ltd. has announced positive financial results for the company following operations in 2011-12.
For the period beginning November 1, 2011 and ending Oct. 31, 2012, NWT posted net revenues from consolidated operations of $132.7 million and an EBITDA of $11,442,627. This resulted in a net profit of $5,329,571, or $1.63 per share.
According to a NWT press release, the financial performance of the company is slightly behind the same period last year when the company posted revenues from operations of $116.1 million, an EBITDA of $11,230,462 and a net profit of $5,691,079, or $1.74 per share. Management reported earnings are down slightly from the previous year primarily because of reduced margins in its grain operations.
"The board of directors is very pleased with the company's performance," says NWT's president John Leier.
"It's good to see both of our business lines continuing to operating well; especially with the changes to the Canadian Wheat Board's monopoly. We now market almost 90 per cent of the grain we buy from farmers ourselves."
