WIT profit rises
Weyburn Inland Terminal says improved grain shipping volumes get the credit for increased profit in its first quarter.
After-tax profit for the three months ending March 31 was $678,000 compared to $146,000 in the same period last year. With a larger and better quality crop to handle, movement was up 80 percent from last year. It also posted steady results in its crop input pro-pellet and Vigro specialty crop processing businesses.
Working capital on May 31 was $12.18 million compared to $9.78 million last year, the company said in a News release
news.
Philom Bio profit slips
Philom Bios saw earnings drop to $1.73 million in its second quarter compared to $2.43 million in the same period last year.
Sales for the period ending March 31 of $6.9 million were up slightly from the year before, but profits were affected by provisions for writedowns of certain products because of increased uncertainty over farmers’ seeding intentions.
As well, research costs related to new products for corn and soybeans rose, but were partly offset by reduced general costs, the Saskatoon inoculant maker said in a news
release.
