Weyburn Inland Terminal has reported net after-tax earnings of $2.7 million for 2002.
That’s down from the record $3.8 million profit posted a year earlier, but didn’t deter company officials from pronouncing it a successful year.
“Although it was a difficult year for grain operations, the efficiencies built into the terminal and the continuing strong support of our customers have allowed our terminal to stay profitable,” said company president Claude Carles.
The terminal handled 515,000 tonnes of grain in 2002, up from 466,000 tonnes the previous year and just a few thousand tonnes short of the record.
But grain handling is no longer the only source of revenue for the Weyburn facility, which was built by area farmers in 1976.
The company sold $14 million worth of crop inputs, up from $13 million in 2001, and also earned revenue from livestock feed pelleting and special crops processing.
All told, grain handling accounted for 60 percent of WIT’s pre-tax revenues in 2002, down from 98 percent five years ago.
