Saturday 26 May 2012
Headlines
Did you find this story interesting? (0) (0)
15/10/2009 15:48:29
Another bumper year for United Oilseeds with increased turnover and a 44% increase in membership
United Oilseeds has today reported a pre-tax profit of £1.03 million for its financial year ended 30 June 2009, as well as a 44% increase in the number of farm businesses that trade with the company.
During the same period, the group’s net worth grew by almost 5% to £4.23 million compared to £4.04 million the previous year. Turnover also increased by 34.5% to £54.6 million as a result of increased seed sales and an increase in the volume of crops being traded via the company’s pool and fixed price contracts.
Farmer membership of the company, which is the UK’s only specialised oilseed rape marketing company, rose from 2151 members in 2008 to 3100 at the end of June 2009.
Chris Baldwin, Managing Director said, "During the financial year ending 30th June 2009, members of United Oilseeds received a crop price that was significantly higher than that of our competitors. That success has translated into a notable increase in membership, with more farmers trading an increased tonnage of crops through our pools to mitigate the effects of price volatility.
"United Oilseeds has continued to go from strength to strength, with annual turnover increasing from £40.6 million in 2008 to £54.6 million in 2009. This has been due to an increase in the volume of ex-farm crops traded and increased seed sales, with the company’s expanding seed portfolio attracting a significant amount of new trade."
"United Oilseeds also made its third consecutive annual profit share payment earlier in the year, returning £340,000 to members. That takes the total amount paid back to members to almost £1 million over the last three years."
Mr Baldwin continued, stating, "We will be announcing details of a fourth successive profit share later this year, which will be paid out to members in the first half of the next calendar year. The arable sector continues to face serious challenges from price volatility and rising production costs, but United Oilseeds is well positioned to safeguard the interests of its members. The significant growth in member numbers over the past 12 months alone is testament to the level of security that our ongoing trading performance provides," he concluded.
During the same period, the group’s net worth grew by almost 5% to £4.23 million compared to £4.04 million the previous year. Turnover also increased by 34.5% to £54.6 million as a result of increased seed sales and an increase in the volume of crops being traded via the company’s pool and fixed price contracts.
Farmer membership of the company, which is the UK’s only specialised oilseed rape marketing company, rose from 2151 members in 2008 to 3100 at the end of June 2009.
Chris Baldwin, Managing Director said, "During the financial year ending 30th June 2009, members of United Oilseeds received a crop price that was significantly higher than that of our competitors. That success has translated into a notable increase in membership, with more farmers trading an increased tonnage of crops through our pools to mitigate the effects of price volatility.
"United Oilseeds has continued to go from strength to strength, with annual turnover increasing from £40.6 million in 2008 to £54.6 million in 2009. This has been due to an increase in the volume of ex-farm crops traded and increased seed sales, with the company’s expanding seed portfolio attracting a significant amount of new trade."
"United Oilseeds also made its third consecutive annual profit share payment earlier in the year, returning £340,000 to members. That takes the total amount paid back to members to almost £1 million over the last three years."
Mr Baldwin continued, stating, "We will be announcing details of a fourth successive profit share later this year, which will be paid out to members in the first half of the next calendar year. The arable sector continues to face serious challenges from price volatility and rising production costs, but United Oilseeds is well positioned to safeguard the interests of its members. The significant growth in member numbers over the past 12 months alone is testament to the level of security that our ongoing trading performance provides," he concluded.
No Comments
Nobody has posted any comments on this story.
|
Farming items for Sale
|
International 956XL - York(GBP 4750)
Used Massey Ferguson 2008 MF6480 - Grantham
(Price on Application)
(Price on Application)
Case 155 puma - Chippenham(GBP 62400)
2009 - John Deere - 7530 Auto-Quad, 50 kph - Ballyclare
(Price on Application)
(Price on Application)
CLAAS 816RZ TRACTOR - Chulmleigh
(Price on Application)
(Price on Application)
Related News
Farmers cooperative increases turnover by more than 27 per cent - 29 Mar 2011AtlasFram Group, the UK’s largest farm inputs purchasing and crop marketing business, recorded a 27.1 per cent increase in turnover during the l...
Lewes Farmers to close after 44 years - 17 Jan 2007Members of Lewes Farmers Limited attending the company's Annual General Meeting in Lewes, East Sussex, today voted overwhelmingly to accept a prop...
Tenants buy their farm after 44 years - 04 Apr 2008AFTER 44 years as tenants, the Baxter family has finally succeeded in buying the farm they have worked for decades. John and Gladys Baxter bought E...
Landmark oilseed offers improved standing power and increased yields - 08 Jul 2009A new oilseed rape variety with the highest possible rating for lodging resistance offers growers across the East and West region the potential of str...
Supermarket reports near 40 per cent sales increase in pork joints the past year - 13 Sep 2011Savvy British shoppers are increasingly turning to pork joints as a cheaper red meat roast alternative in a bid to try and save the pennies. Figure...
Russia showers $US 44 billion on agriculture - 17 Dec 2007Since the launch of the national agriculture project in 2005, investment in the development of the sector in Russia has tripled. Traditionally vita...
Cornish Duck Company set for bumper year - 19 Feb 2009Award-winning local food producer the Cornish Duck Company is quietly confident it will see a bumper year of trading, despite the gloomy outlook on th...
United Kingdom-Meat prices increase. - 26 Jan 2009UNITED KINGDOM.MEAT PRICES RISE. Inflation is still hitting the weekly shop, with meat prices soaring, raising fresh fears of a squeeze on suppliers ...
United States-Increasing Pig Production. - 27 Jan 2009UNITED STATES. INCREASED PIG PRODUCTION FROM SOWS. An Indiana-based gilt multiplier remains focused on more pigs per sow each year by improving ge...
United States-Cattle Rustling increases. - 28 Jan 2009UNITED STATES CATTLE RUSTLING. The souring economy has led to a surge of cattle thefts in southwest Missouri. The Greene County (Mo.) ...
