Finance

Over the last five years the United Oilseeds Group has increased its net worth by £2.591m from £1.729m in 2004 to £4.320m in 2009. This demonstrates the stability and soundness of the company, so that farmers can have confidence when dealing with the company that their money is in safe hands. This is a major consideration in the current difficult financial and economic trading environment we find ourselves in.

Members can view a full copy of the group accounts for the financial year 2008/09 here

The key financial points from the year 2008/09 accounts can be summarised as follows:

The society's turnover was £55 million.
Total number of members trading has risen to 2,499 in the year.
The company's profit before tax and distributions was £898,091
The company's net worth rose by £186,269 to £4,230,306
The company's distributed £948,000 back to its trading members since 2006.

Other key points of interest include:

The company returned an excellent pool performance during the year.
Year on year the company increased its 'seed for sowing' side of the business.
The membership of the society increased by 348 members.

In the forthcoming year the company's aims are to:

Continually improve the profitability of our members by providing an independent, cost effective marketing service;
Continue with the company's policy of not applying capping charges;
Continue to make a profit distribution to trading members when it is financially able to;
Guarantee oilseed rape movement within 3 to 5 days of receiving notification that a crop is ready for collection;
For the benefit of our members a produce of a hectarage contract is available.

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