Further loss for co-op
SCOTLANDS biggest farm requisites co-operative, North Eastern Farmers, made a loss of £1.9m in the year to the end of June.
After paying a 7% dividend, £2.06m was transferred from reserves. These now stand at £5.88m compared with £9.4m two years ago.
It is the third year of substantial loss-making by the Aberdeen-shire-based co-op which has 7000 trading members and a turnover of about £50m. In the annual report, chairman John Mackie said £800,000 of the latest loss was due to exceptional circumstances, including a bad debt of £200,000 following the collapse of the Arthur Simmers pig business. *