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Winnipeg Free Press - PRINT EDITION

Business Watch

By: Staff Writer

Posted: 11/14/2012 1:00 AM | Comments: 0

Crops reap federal dollars

THE federal government is backing efforts by Canadian pulse and specialty-crop producers to further promote their products and research their health and nutritional benefits.

Pulse Canada and the Canadian Special Crops Association, both Winnipeg-based organizations, received a total of $810,000 from the federal agricultural innovation program (AIP) and the agrimarketing program.

The additional support will go towards substantiating the health benefits of pulses, which could lead to their increased use in processed foods and open other opportunities.

Exchange Income strong

EXCHANGE Income Corp. continued to produce strong growth in all metrics in the third quarter, largely due to the contributions of its WesTower Communications unit, a company that builds and services wireless phone towers throughout North America.

The Winnipeg-based diversified management company announced an increase in its monthly dividend to 14 cents from 13.5 cents. It is the eighth time since 2004 the company has increased dividend distributions.

Net earnings for the quarter ending Sept. 30, 2012 were $9.9 million, up 37 per cent compared to the same period last year, on revenue of $220.8 million, up 51 per cent. EBITDA was up 37 per cent to $30.3 million.

San Gold revenue rises

SAN Gold Corp., the Winnipeg-based company that operates the Hinge, 007, and Rice Lake gold mines near Bissett, Man., reported $41 million in revenue for the third quarter.

The 25 per cent quarterly increase was due to the sale of 24,469 ounces of gold at a realized price of $1,675 per ounce.

The company produced a record 27,084 ounces of gold, a 42 per cent increase from the 19,119 ounces produced in the third quarter of 2011.

Despite better production, the company posted an $800,000 loss compared to a net profit of $1 million in the third quarter of 2011.

-- staff

Republished from the Winnipeg Free Press print edition November 14, 2012 B7

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