St-ISIDORE Co-op AgriEst held its 11th Annual General Meeting on March 20 and presented the cooperative's financial results to its members for the fiscal period ending October 31, 2011. It was with great pride that the executive declared the cooperative's financial situation to have clearly improved over the previous year, and that the cost effectiveness of The Co-op AgriEst is responsible for its remarkable growth.
The cooperative's consolidated activities generated sales totalling $39,323,000, compared with $23,418,000 for the previous year. This represents an increase of more than 40 per cent, which can be attributed mainly to the combination of the rise in the number of tons of traded grain, feed and fertilizer.
Gross margin also experienced an increase, going from $2,507,000 to $2,806,000 for this year, while the surplus at the end of the period, October 31, 2011, increased by 27 per cent, from $535,000 to $737,000.
Over the past year only, sales transactions with its members rose from 26.9 to 29.2 per ent, which is a testimony to the vitality of Co-op AgriEst's membership. "Our cooperative is more active and conscientious than ever," stated president Francine Cayouette. "Sales have significantly increased while operating expenses remained the same. We have every reason to be proud!"
Furthermore, a strategic blitz was undertaken last year with the objective of rendering Co-op AgriEst operations as profitable as possible to meet the expectations of its members. "Being part of The Co-op fédérée's network, our sales team can depend on their expertise and a quality product and service offering," said Cayouette. "Our members are the primary reason for our success and that's why it's critically important that we satisfy them."
"We owe it to ourselves to mention all of the hard work of The Co-op AgriEst employees, without which our cooperative would never have experienced such success. The cooperative also wishes to thank all of its collaborators, including the Co-op Agrodor. "I must emphasize the excellent collaboration on the part the Co-op Agrodor with which we share several employees. The sharing of our resources allows both of our cooperatives to benefit from the many synergies and to improve the skill levels of our employees," Co-op GM Patrick Therrien stated in a press release issued in late March.
Founded in 2001, AgriEst is a major player in several divisions of the retail market, from grain trading, crop production, animal production to hardware and materials. Its sales exceed $39-million and it employs 23 people.