Legumex Walker Q4 loss widens to $7.1M; says revenue up 30% at $135.3M

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WINNIPEG – Legumex Walker Inc. (TSX:LWP) has reported an increased year-over-year loss in the fourth quarter, citing among other things a loss by its Pacific Coast Canola plant in its first full quarter of operation.

The processor and merchandiser of special crops, pulses and canola products said Monday that its net loss attributable to shareholders was $7.1 million or 44 cents per share in the quarter, including a loss of$3.1 million or 19 cents per share by PCC.

That compared with a net loss of $5.4 million 34 loss cents per share in the year-earlier period even as consolidated revenue rose 30 per cent to $135.3 million from $104 million.

For the full year, the net loss attributable to shareholders was $25.4 million or $1.56 per share, including a loss of $17 million or $1.04 per share for PCC. That compared with a loss of $12.6 million or 89 cents per share in 2012.

Full-year revenue increased 47 per cent to $433.6 million from $294.8 million.

Legumex Walker is one of the largest processors of special crops and pulses in Canada, with 15 processing facilities across the Prairie provinces, the American Midwest and in China. It also has an 84 per cent interest in Pacific Coast Canola, which operates the first only commercial-scale canola oilseed processing facility west of the Rocky Mountains.

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