REGINA (Staff) – Environmental costs will make the 1994-1995 Saskatchewan Wheat Pool financial results appear worse than they are, says pool president Leroy Larsen.
Sask Pool had to do a costly revamping of facilities of Western Co-operative Fertilizers Ltd. that it owns jointly with the other prairie pools. Gypsum ponds in the Medicine Hat and Calgary plants are considered an “environmental hazard” and the cost of replacing them has been partially included in this year’s financial results.
That will “make what had looked like a very good year bottom line look like not a very good year,” he said.
He said net earnings for 1994-1995 would be below the previous year’s $40,435,000, but said the numbers are not yet finalized.
“We had a reasonably good year,” Larsen said. “It may not have been quite as good as we had hoped for, but still a very good year financially.”
The board of directors will receive the final results at its September board meeting.
