Weak ruminant market hits supplement sales at Westway
Sales lower, but margins held
Westway Group Inc in the US produces approximately 1.5 million tons of liquid feed supplements annually at 37 facilities through its subsidiary Westway Feed Products.
In an earnings statement for the six months to June 2010, it says the tonnage sold by its liquid feed supplement business declined by 3% because of continued weakness in the dairy and cattle markets, to 771,000 tons from 792,000 tons for the same period of 2009.
This included a 2% drop to 355,000 tons for the three-month period ended June, compared to 362,000 tons in April-June 2009, although the gross profit margin (net revenues minus cost of sales) remained constant at US$9.6 million.