BISMARCK, N.D. — Net earnings at North Dakota Mill in the year ended June 30 were $8 million, down sharply from $16.1 million in fiscal 2011.
Despite the decline, the earnings still ranked as the third best in the company’s history, said Vance Taylor, the mill’s general manager.
Mr. Taylor said the higher grain prices had an effect on the most recent results. He described the previous year’s profits as the result of an unusual confluence of good fortune.
“Market focus came together in a way that allowed us to maximize profits throughout the entire year,” Mr. Taylor said. “Some years we have some months that are better than others. (Last year), we had good market conditions for the entire year.”
The mill also showed a 1% increase in flour sales volume, to 11.6 million cwts.