The independent farmer-shareholder owned company based in Unity, SK posted a net profit of $6.6 million for the fiscal year ending October 31, 2015.
It is only a slight decline from the $6.7 million reported during the previous year.
North West Terminal Chief Executive Officer Jason Skinner says a record 515,000 metric tonnes (20.6 million bushels) of grain was moved. He credits a rail infrastructure expansion that includes access to both CN and CP Rail.
“If you are challenged on one rail line, sometimes you have options on the other rail line. It opens up some other ports because both rail companies don’t go to all different destinations. It opens up some other customers for us, so there are a few advantages that we are finding complement our business well.”
The news is not so good in the bio-products division. Lower crude oil prices led to reduced fuel-ethanol prices creating negative margins. Skinner says the company is trying to expand ethanol sales into higher value markets.
“One thing we have done over the past year is some improvements to our bioproducts plant. We added some additional distillation towers. It allows us to refine the ethanol we produce further, which opens up some different industrial, non-fuel markets where returns are a little better.”
North West Terminal owns and operates an inland-grain terminal and a bio-products manufacturing facility at Unity, about two hours west of Saskatoon.