WAFarm­ers wind­fall keeps it in the black

Countryman - - NEWS - Rueben Hale

An in­jec­tion of $171,000 as a re­sult of a re­align­ment of a num­ber of project ac­counts has helped WAFarm­ers stay in the black in 2016-17.

The ac­count­ing stan­dards, en­forced by ap­pointed au­di­tors, called for WAFarm­ers to recog­nise th­ese funds in their fi­nan­cial re­ports for the year.

With­out the boost, the or­gan­i­sa­tion had been ex­pect­ing a $37,000 net op­er­at­ing loss, largely be­cause of a $35,000 in­crease in op­er­at­ing costs from mov­ing premises.

Sales from the WAFarm­er­sFirst brand in­creased gross in­come by $300,970, an al­most 40 per cent rise since its in­tro­duc­tion to the re­tail mar­ket two years ago. The group also en­joyed sig­nif­i­cant growth in mem­ber­ship funds.

WAFarm­ers pres­i­dent Tony York said a $90,903 li­a­bil­i­ties in­crease last year was in part down to the move to more fi­nan­cially at­trac­tive premises in Bel­mont.

“We would have al­most bro­ken even if it weren’t for the move, but the good news is that we will be sav­ing about $5000 in rent each year as a re­sult,” he said.

“Fur­ther, our new premises in­creases our brand ex­po­sure, fa­cil­i­tates part­ner­ship de­vel­op­ment and growth with other like­minded or­gan­i­sa­tions, and pro­vides us the room to grow as an or­gan­i­sa­tion.

“The cash boost from the project funds will be ex­pended as projects are rolled out over the com­ing years.”

Mr York said de­spite the re­sult the or­gan­i­sa­tion re­mained in good shape to give value to its mem­bers, while en­sur­ing the long-term fi­nan­cial strength.

“This year we are go­ing to go as hard as ever lob­by­ing gov­ern­ment, en­gag­ing in farmer ad­vo­cacy and fur­ther en­hanc­ing our com­mer­cial in­ter­est with the milk, eggs and other planned busi­nesses,” he said.

“We are plan­ning to en­gage with the State Gov­ern­ment a lot this year on their pro­posed an­i­mal wel­fare re­forms, which have the po­ten­tial of hav­ing a sig­nif­i­cant im­pact on the day-to-day op­er­a­tions of many of our live­stock pro­duc­ers and as­so­ci­ated in­dus­tries.”

Mr York said one of the most crit­i­cal as­pects of the de­vel­op­ment of agri­cul­ture in the re­gions was ac­cess to work­ers.

Pic­ture: Melanie Dunn

WAFarm­ers pres­i­dent Tony York.

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