Legumex Walker Q1 loss rises slightly to $6.1M; revenue soars to $128.5M

WINNIPEG – Legumex Walker Inc. (TSX:LWP) has reported a small increase in its first-quarter net loss as higher costs and other factor more than offset a big gain in revenue.

The Winnipeg-based processor and merchandiser of pulses as well as other specialty crops and canola products said its net loss attributable to shareholders was $6.1 million or 37 cents per share, up from $5.8 million or 36 cents per share in the same 2013 period.

The loss in the quarter included a loss of $3.8 million or 23 cents per share associated with the operation of the company’s Pacific Coast Canola plant.

Revenue in the three-month period ended March 31 was $128.5 million, up from $87.3 million.

The company noted that rail congestion issues in North America increased in-transit finished goods and resulted in shipping and invoicing delays affecting current liabilities as did an increase in customer prepayments for future sales.