CWG eyes breakeven for year-end

By FWi staff

CWG has reported a loss of 342,194 for the year ending Dec 31, 2000, compared with a deficit of 610,000 the previous year.

The co-op came close to breaking even despite sales falling by 2m to 18.1m. But exceptional items, including one-off redundancy costs and increased bad debt provision affected the bottom line.

Despite the overall fall in sales, crop packaging, animal health and feeds increased market share, and equestrian business increased for the eighth consecutive year.

The company hopes to break even by the end of the year, although this could be delayed due to the foot-and-mouth crisis.

“Being based in the east we havent been seriously affected. Sales are holding up and we should still be in profit by 2002,” says managing director Andrew Moore.