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?
Wellgrain was not a Co-op, it was largely owned by one person.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.
Yes indeed they built a 10,000 tonne store for Malting Barley last year and have started on a NEW AD plant !!Tells you very little. Could have build a big store or something and had a massive writedown. Quite possible to have strong positive cashflow and be building a balance sheet, but run at a loss in accounting terms.
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.Wellgrain was not a Co-op, it was largely owned by one person.
Oh & to add i get a full copy of the operating accounts for both companies yearly & there financially sound..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.
As an aside, Nidera UK have become COFCO international ltd, backed by COFCO corporation, with total assets of 70 billion dollars.
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 .
Not brother or sister, but you got the drift. It does matter that you have confidence in getting paid though.
Please accept my profound apologies for the incorrect terminology..
As an aside, Nidera UK have become COFCO international ltd, backed by COFCO corporation, with total assets of 70 billion dollars.