Finance
Finance
Over the last seven years, the United Oilseeds Group has increased its net worth by £3.209m from £1.729m in 2004 to £4.938m in 2011. This clearly demonstrates the stability and soundness of the company and helps to explain why an increasing number of farmers chose 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 difficult financial and trading environment.
The key financial points from the Group's accounts to the year ending 30 June 2011 can be summarised as follows:
• The Group's annual turnover increased by 51% during the year to £100.3 million including members trading.
• The total number of trading members 2,759 for 2010/11.
• The Group's pre-tax profit before tax and distributions was £819,144.
• The Group's net worth rose by 2.7% during the year to £4.90 million.
• The company has distributed a profit share of £1.592 million over the last four years to trading members.
Other key points of interest include:
• Rapeseed sales grew by 17.59% compared to the previous year.
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.