Agricultural supply co-op announces sales increase

Supply co-operative Mole Valley Farmers has announced a 10% increase in turnover in its year-end results.

The UK’s largest agricultural and rural retailer, Mole Valley Farmers achieved a turnover of £183.5m to the year ending September 2007, up from £166.9m the previous year.

Retail sales rose by 6.3%, up by £4m to £66 million.

Despite the increase, the co-op’s profits had dipped to £1.72m, from £2.143m in the same period in 2006.

Mole Valley Farmers said the fall in profits was mainly caused by a new rebate scheme, which will see its farmer shareholders receive more than £200,000 on essential agricultural inputs such as compound feeds, blends and seeds.

Andrew Jackson, Mole Valley Farmers chief executive, said the company was well placed to add value and offer support to the farming industry.

‘Despite the low returns and uncertainty for many of our farming members, their continuing support is greatly valued,” he added.