Expanding growth for United Oilseeds in 2010

Date Added: 17/11/2010

United Oilseeds has recently announced continued financial growth during the company’s financial year to 30 June 2010, with annual turnover increasing by 5.2% to £100.8 million.  The group’s net worth increased by 13.7% during the same period to £4.80 million.

Farmer membership of the company, which is the UK’s only specialised oilseed rape marketing company, also increased during the year with overall member numbers rising to 3,206.  This represents an increase of 3.5% compared to the company’s membership at the end of June 2009.

The company’s pre-tax profits for the year were higher than anticipated at £770k (2009 £1.03m) and Chris Baldwin, Managing Director of United Oilseeds, remains extremely upbeat about the company’s ability to further expand its share of the UK oilseed market.

“United Oilseeds has continued to grow at an exceptional rate over the past 12 months.  This is in spite of challenging trading conditions and continuing volatility within the commodity sector which have impacted on the company’s pre-tax profits,” Mr Baldwin stated.

“United Oilseeds moved more than 210,000 tonnes of oilseed rape from farms in an eight week period during this summer’s busy harvest season, which means the company was moving an average of 5,000 tonnes per weekday.  That alone represents a 48% increase compared to last year and is testament to the quality of service that we provide to our members.

“During the past 12 months we have taken on a number of new grain stores which are strategically placed across the UK to enable us to continue to offer an unrivalled level of service to our members.  As a result, membership has grown and we have handled an unprecedented tonnage on behalf of new and existing members who trust us and rely on us to move their oilseed rape crops promptly and efficiently so that they can continue with their wheat and barley harvests uninterrupted.”

United Oilseeds has also seen a significant increase in its share of the certified seed market.  “Our strategy of providing impartial agronomic advice, as well as access to the best varieties at competitive prices has seen our rapeseed sales grow by 23% over the last year,” Mr Baldwin continued.

“In addition, we have redistributed profits of £1.27 million back to our trading farmer members over the last four years. That is the equivalent to a premium of approximately £49 per lorry load of oilseed that each of our members has marketed through United Oilseeds since 2005.”