Agribition reports $83K profit for 2022 fiscal year

Canadian Western Agribition (CWA) turned things around financially in 2022.

One year after announcing an operating loss of $321,000 in the 2021 fiscal year, the Regina-based agricultural show posted a profit of $83,450 in 2022. The show also reported record-setting revenue of $4.74 million.

The financial results were announced prior to Agribition’s annual general meeting Wednesday.

“These numbers tell us we have returned to business as usual,” CWA president Kim Hextall said in a media release. “The organization is in a strong cash financial position which will help us build and focus on our vision and future events.”

Agribition recorded a profit of more than $325,000 in 2019, but suffered a net loss of more than $774,000 in 2020 after having to cancel the show due to COVID-19. The 2021 show was held despite the pandemic.

The release said the turnaround in 2022 was a result of record-breaking rodeo ticket sales and general admissions, as well as good results from the cattle sale. Organizers said the show produced $96.5 million in economic impact to Saskatchewan.

“We look forward to keeping this momentum going and remaining as industry leaders in the agriculture and livestock sector,” CEO Shaun Kindopp said in the release. “There are a number of exciting developments being added to the show and we already look forward to having our barns buzzing again.”

The 2023 show, which is slated for Nov. 20-25, is to feature the return of Tuesday night entertainment. The show also is to include the presentation of the inaugural Canadian Animal AgTech Awards, which the release said highlight “ground-breaking technologies that are transforming the agriculture industry.”