The Weyburn Inland Terminal recorded a more than $300,000 profit to start off the year 2000, continuing a steady trend of earnings for shareholders.

WIT's first-quarter report (from January to March) shows after-tax earnings of $307,000 or .32 cents per fully diluted share.

That's down $92,000 from first quarter earnings in 1999, due largely to the outlay of cash WIT put out to buy back shares from investors who wanted to sell.

The terminal spent over $2.2 million on the Issuer Bid, purchasing 105,258 common shares back from shareholders in March, without borrowing any money to do so. After the bid was over, the company still had $738,000 in working capital.

WIT also paid out $195,000 in freight and dockage incentives in the first quarter of 2000, $35,000 for the free drying program and semi-annual dividends totaling $281,000.

Strong sales in the crop input and Pro-Pellet divisions have contributed significantly to earnings, while the special crop facility, Vigro Seed and Supply at Sedley, has seen a reduction in sales revenues.

WIT president Claude Carles is optimistic for the second quarter of 2000.

"Continued strong support from shareholders and customers across all WIT business lines has resulted in WIT's strong performance in a year where the Canadian grain industry is seeing a significant reduction in earnings.

"Good moisture conditions at seeding should get the 2000 crop off to a good start, and increased contribution from the farm supply and Pro Pellet sectors of our business may mitigate the impact of possible reductions in shipping due to a smaller crop last year," Carles said.