The Weyburn Inland Terminal saw another profitable year.

(Photo of the Weyburn Inland Terminal)

 

The Terminal held their Annual General Meeting Friday afternoon at McKenna Hall.

The Terminal finished the 2009 fiscal year with a net profit of $2.36 million, which is down slightly from the previous fiscal year. According to Terminal C.E.O. Rob Davies, the Terminal's net profits were down just over $70,000.

Davies says, "it was a good year. Certainly our grain handle was up a quite a bit from last year while the fertilizer market made it a little tough on the crop input business but that's why we have a bunch of different businesses."

As for the Global economic situation playing a role in the Terminal's slight decrease in profits, Davies says "it impacted a lot of different areas. The exchange rate and the dollar has an impact as what we can do as an exporting country. That affects canola prices, it affects cereal grain prices and certainly puts some of the companies we deal with in a little tougher financial position. On a day to day basis, our objective is to make sure we can provide the most value to our customers and market the grain as well as we can on their behalf."