Scottish co-op hit by 215,000 loss

By FWi staff

SCOTLANDS largest farmers co-operative, North Eastern Farmers, has reported an operating loss of 215,000 for the year ended 30 June.

Turnover for the year was down 300,000 to 39.7m.

Although no profit has been recorded since the record losses of 1.45m in 1997, restructuring had allowed a gradual reduction in losses to 83,000 in 1999/00.

“Unfortunately we have been unable to continue the year-on-year trend to break even and eventual profitability,” said chairman John Mackie.

The ongoing agricultural recession was to blame, he said, coupled with a reduction in pig and dairy cow numbers.

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