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SWP Q4 Profits Up 2.7%
TORONTO - Oct 13/05 - SNS -- Saskatchewan Wheat Pool Inc. reported net earnings of CDN $29.528 million on sales of $546.725 million during the fourth quarter ending July 31, compared to a net of $28.755 million on sales of $542.488 million during the same three month period last year.
This lifted net earnings for the fiscal year to $12.089 million on sales of $1.385.73 million, up from a net of $5.019 million on sales of $1.407.297 million during the previous fiscal year.
The company said improved fourth quarter sales were driven by strong Agri-products and Agri-food sales that grew 15.3% and 9.0% respectively.
Grain shipments for the quarter were slightly ahead of last year despite a decline in Canadian Wheat Board exports during the period. Fiscal 2005 sales also reflect significantly lower non-Board grain prices relative to the fourth quarter last year, when non-Board commodity prices were approximately 36.0% higher.
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