Buhler Industries reported an increase in revenue but a decline in net profit for the first nine months of the fiscal year. For the quarter, both measures improved.
Revenue increased by 19.5 percent for the quarter ended June 30. Revenue for the first nine months rose by 3.4 percent. Net profit for the quarter was $500,000 compared to a $1.2 million net loss in 2019. For the first nine months of 2020, Buhler reported a $13.5 million net loss. Last year, the first nine months saw a $1.4 million net profit.
News in the U.S. was good. The company experienced a 37 percent increase in sales for the first nine months of this year.
Based on an analysis of trends in agriculture and manufacturing, Buhler intends to increase production at its plant in Willmar, Minn. A news release said the move is “the result of unpredictability in the agriculture commodities market and fluctuations in the exchange rate, as dealers in Canada market several U.S. based Farm King-branded products.
Buhler said this will improve efficiency and reduce overhead costs at the Willmar factory, which manufactures products under the Farm King brand.
Products built at the Fargo, N.D., operation are being relocated to Willmar. Production in Fargo will cease Sept. 30.
Source: Buhler | Member since 1972 | Buhlerindustries.com