The board of directors of North West Terminal Ltd. (NWT) has announced positive financial results for the company following operations in 2009-10.
For the period beginning Nov. 1, 2009 and ending Oct. 31, 2010, NWT posted net revenues from consolidated operations of $86.9 million and an EBITDA of $6,990,945. This resulted in a net profit of $2,072,615, or 63 cents 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 $3,567,443 and a net profit of $1,262,606, or 39 cents per share. Management reported earnings were up from the previous year primarily because of improved margins in both its grain and 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 farmers not only benefiting as shareholders of NWT but also as customers. Last year NWT paid out more than $500,000 in trucking incentives and dockage payments directly to farmers. They saved another $170,000 on rail freight last year because NWT did not charge freight on dockage."
