Pooper Scooper
New Member
Was reading the EDP yesterday and I stumbled upon this.
Is it usual for a farmer owned Co-op to deliver these kind of results?
Is it usual for a farmer owned Co-op to deliver these kind of results?
Fengrain loses
- Thread starter Pooper Scooper
- Start date
When you see things like that and know about the likes of wellgrain, viking grain and that potato outfit recently that went, it really does push us all towards selling little and often to a handful of buyers to hedge your bets and to protect your own business. There would be no way now we would join a co-op after all these stories.
spikeislander
Member
- Location
- bedfordshire
Assets of £10.2 million though. I think they are fairly well heeled.
Woldgrain Storage
Member
- Location
- Hemswell, North Lincs
Not all cooperatives are the same.
As an example, Woldgrain is simply a storage and primary processing coop, with all marketing outsourced to our marketing partners.
Woldgrain never own the grain in store and are not involved in any trading.
Other coops trade on behalf of their members (and the wider industry) to generate turnover.
As an example, Woldgrain is simply a storage and primary processing coop, with all marketing outsourced to our marketing partners.
Woldgrain never own the grain in store and are not involved in any trading.
Other coops trade on behalf of their members (and the wider industry) to generate turnover.
- Location
- West Suffolk
Where does it say 1.1 million?
spikeislander
Member
- Location
- bedfordshire
The two companies added together I believe but not studied it.
- Location
- West Suffolk
Were Fengrain on the creditors list of Wellgrain?
- Location
- Bedfordshire
- Location
- Bedfordshire
Yes indeed they built a 10,000 tonne store for Malting Barley last year and have started on a NEW AD plant !!
- Location
- Northumberlandia
Bloody pleased the Local Grain Outfit we have been founding members of since it started in the early 80's is not owned by one single person & has a separate Grain Selling Co to the main Grain Storage/Drying/Handling Business.
- Location
- Northumberlandia
Oh & to add i get a full copy of the operating accounts for both companies yearly & there financially sound..
- Location
- Northumberlandia
Not brother or sister, but you got the drift. It does matter that you have confidence in getting paid though.Bit of self serving sibling promotion .
Please accept my profound apologies for the incorrect terminology..
Also please be aware the UK subsidiary is entirely a separate legal entity and could comfortably go bust with or without COFCO ownership or asset base.
As others have pointed out, an accounting loss doesn't necessarily mean that much if investment is being made or accountants have been juggling numbers. Wellgrain, for example, made a profit last year.
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