14% turnover rise for Farmway co-op

NORTH-EAST based farmer co-op Farmway has announced a profit of 300,283 for the year ended November 2004.

The figures show little change from the previous year. But chairman, John Hutchinson, said turnover in the core business rose by 14%.

 “The nine Farmway Country Stores are performing particularly well, with turnover up to 8.87m – an increase of 18.5%,” said Mr Hutchinson.

“Farmway”s joint venture with GrainCo and GrainCo Scotland has traded almost 1m tonnes of grain and oilseeds.”

Mr Hutchinson was optimistic that new markets for oilseed rape would open up soon. “With the recent announcement that work has started on the construction of a bio<00AD>diesel production plant on Teesside, we are within sight of achieving an alternative market for locally-grown oilseed rape,” he added.