This year, United Oilseeds Group has increased its year on year net worth by 7.2% to 8.43m at year end June 2015. This clearly demonstrates the Board's continuing aim to build a stable and sound company and helps to explain why an increasing number of farmers choose to trade with the company and why they have confidence that their money and crops are in safe hands. This is a major consideration in the current volatile and challenging financial and trading environment.
The key financial points from the Group's accounts to the year ending 30 June 2016 can be summarised as follows:
• The Group's turnover rose 6.5%, climbing £10,769,040 from £165,406,163 to £176,175,203
• Profits increased 2.1% from £1,484,570 to £1,515,739
• Net worth also increased, by 16.4%, up £1,369,247 from £8,334,000 to £9,703,247.
• The group reported a 3.2% rise in the tonnage of oilseed rape it traded during the year with the volume of fixed price and pool rape traded rising by over 17,000 tonnes from 523,412 tonnes to 540,690 tonnes.
• United oilseeds has distributed a profit share of £3.85 million in total to trading members over the last 11 years.
In the forthcoming year the company's aims continue to be:
• To continually improve the profitability of our members by providing an independent, cost-effective crop marketing service.
• To continue with the company's policy of not applying capping charges on part-loads.
• To continue to make a profit distribution payment to trading members when it is financially able to.
• To continue to offer a produce of a hectarage contract for the benefit of our members so that are not penalised for yield variations.