Record results for the co-operative Farms

The UK’s largest farming business, The Co-operative Farms, has announced record profits for the year to January 2009, and says it plans to continue to increase the amount of its produce sold in Co-operative Food stores.

Success of the "Grown by us" range, food and drink produced by The Co-operative Farms, helped contribute to the business’ record £5.7m* profit during 2008, more than double 2007’s £2.5m profit.

Christine Tacon, Managing Director of The Co-operative Farms, said: "With the wettest summer on record, food price inflation, the economic downturn and volatile markets it has been an eventful 12 months.

"But, despite the difficulties, we had a good harvest, benefited well from fluctuations in currency and, most importantly, continued to increase the depth of penetration of our ’Grown by us’ range into our food stores – something we are keen to extend even further in the future."

"Grown by us" products include potatoes, onions, strawberries, peas, broccoli and apples, grown by The Co-operative Farms, as well honey from its own hives and other products, such as flour, apple juice, cider and beer, made using ingredients grown by The Co-operative Farms.

The Co-operative Farms is working towards supplying 25% of the British-grown fresh produce sold in Co-operative Food stores by 2011.

"It’s an ambitious target," admitted Christine Tacon. "Especially with The Co-operative acquiring Somerfield. It will mean effectively doubling the size of the farming business. We are developing schemes for working with other farmers to use their land and labour to help us achieve it."

Other highlights for the past year included major investments in a new potato grading facility and potato storage at Carnoustie, near Dundee, and new potato and grain storage facilities at Coldham in Cambridgeshire.

The Co-operative Farms currently farms around 60,000 acres at 15 sites from the north of Scotland to southern England.