Legumex Walker Profits Jump

TORONTO - Aug 7/14 - SNS -- Legumex Walker reported net earnings of $1.665 million on sales of $131.802 million during the second quarter ending June 30, compared to a net loss of $9.652 million on sales of $112.098 million during the same three month period last year.

This reduced the fiscal year to date loss to $4.421 million on sales of $260.667 million, compared to a loss of $17.311 million on sales of $199.414 million during the same six month period last year.

Gross sales in the special crop division rose 9% to $99.5 million during the second quarter, lifting sales for the first half of the fiscal year to $193.8=9 million, up 11% from 173.9 million last year. Tonnage shipped during the latest quarter jumped from 104,400 to 119,200 metric tons (MT).

The company noted that days in receivable improved to 45 from 51 days and days in inventory improved from 63 to 56 days.

Quarterly revenue at Pacific Coast Canola (PCC) increased 63% to $34.2 million on 50,600 MT sold compared with $20.9 million on 30,000 MT sold last year.

PCC entered into an agreement with Dow AgroSciences Canada Inc. under which it has been granted a license to process Nexera canola and produce and sell Omega-9 Quality Canola Oil at its facility in Warden, Washington.