SWP Loss Drops Under One Million

TORONTO - Jun 14/05 - SNS -- Saskatchewan Wheat Pool Inc. (SWP) reported a net loss of CDN $916,000 on sales and operating revenues of $288.016 million during the third quarter ending April 30, compared to a net loss of $9.141 million on sales of $255.176 million during the same quarter of the previous fiscal year.

This lifted fiscal year to date to losses to $17.439 million on revenues of $839.005 million, compared to a net loss of $23.736 million on revenues of $864.809 million during the first nine months of the 2004 fiscal year.

The SWP said third quarter sales improved in all three business segments, driven by stronger grain shipments, a 16.4% increase in sales from the Pool's Agri-products segment, and a 6.6% increase in Agri-food Processing sales.

For the first nine months of fiscal 2005, the Pool generated sales of $839.0 million compared to $864.8 million for the same period a year earlier. Despite a 10.1% increase in grain shipments, sales and operating revenues were behind fiscal 2004 reflecting the impact of poor non-Board commodity prices, which were, on average, $36 per metric ton (MT) lower than the previous year's period.

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