Co-op wholesaler’s 89th year posts record sales and net income

Wholesaler Federated Co-op enters its 90th year of operations having just completed a record sales year in 2017.

Last year the Saskatoon-headquartered business posted $9.8 billion sales, a 17 per cent increase. Of that, FCL paid $338 million in cash to member co-ops, with the Moose Jaw Co-op Association receiving $3.8 million.

FCL is owned by 181 retail co-ops in Western Canada.

Member support is more important than ever in these challenging and competitive times, Marc Topola, regional FCL director told the Moose Jaw Coop annual meeting.

“It is our members that make our co-op truly successful,” said Topola. “The retail landscape is changing at an even faster pace today than it did a year ago. “Among FCL milestones last year, two fertilizer distribution terminals stand out, said the Assiniboia resident.

Two state-of-the-art terminals were completed on time and on budget at Hanley, Sask. and Brandon, Man.

Hanley capacity is 45,000 tonnes with 27,500 tonnes at Brandon.

The terminals show “how continued growing sup- port for the ag industry has helped us achieve record ag sales exceeding $1 billion over 2017. It was only a few years ago that we were in the $220 million.” The co-op system has “distinct advantages over our competitors with the co-operative business model. This model balances our economic and social responsibilities investing in our local communities and meeting our needs.”

In future, the co-ops’ primary focus is on sustainability – minimizing environmental impacts, investing in local communities and operating financially responsible operations to a world class in consumer retail excellence, he said.