The board of directors of North West Terminal Ltd. has announced positive financial results for the company after its first three months of operations in 2012-13.
For the period beginning November 1, 2012 and ending Jan. 31, 2013, NWT posted revenues from consolidated operations of $43.5 million and an EBITDA of $2,540,192 (unaudited). This resulted in a net profit of $1,309,765, or 40 cents 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 $34.5 million, an EBITDA of $3,182,454 and a net profit of $1,606,292, or 49 cents per share.
Management reports that earnings were down from the previous year primarily because of reduced margins and shipments for its grain operations.
"The board of directors is very pleased with the company's performance in the first three months of the year," says NWT's president John Leier. "I'm pleased to report that the company continues to report strong earnings even with the transition to a voluntary CWB on Aug. 1 last year. As a locally-owned grain company, we want to continue offering superior service and marketing options to local farmers."
