After-tax earnings for the Weyburn Inland Terminal are up for the first half of 2000, and the company is optimistic a healthy harvest will ensure a financially-healthy second half.

In the company's second-quarter report, issued on Tuesday, the terminal had after-tax earnings of $620,000, or 65 cents a share fully diluted, for the first half of the year, up from $550,000 for the same six-month period in 1999.

The company spent $2.24 million to buy 105,258 common shares back from shareholders through an issuer bid, completed in March. Despite this expenditure, WIT had working capital of $908,000 as of June 30.

CEO Rob Davies said the terminal has made the most of its opportunities this year to turn a healthier profit than in 1999.

"Our grain business has been steady in what was a difficult year, and both our crop input and Pro-Pellet groups are having strong years, contributing significantly to earnings. Although Vigro Seed and Supply was slow in the first quarter, end-user demand picked up significantly in the second quarter as we expected it would," said Davies.

A pay-out of $408,000 was made for freight and dockage incentives for the first half of 2000, and the free drying program for Series A deliveries will give producers another $90,000 in August. Semi-annual dividends were also paid out in April totalling $281,000.

"This is a strong performance given the current environment," said WIT president Claude Carles, adding he is optimistic the remainder of this year will be positive for the company as well.

"Although grain prices continue to be under pressure, a larger crop this year should provide opportunities for greater returns to our customers, and more grain for WIT to handle. Our local presence helps keep us in touch with our customers and shareholders, and we look forward to continuing to grow for the benefit of both," said Carles in a statement on Tuesday.