Turnaround for Scot co-op

By Fwi staff

EAST of Scotland Farmers, the 300-member farmers co-operative based in Coupar Angus, Perthshire, returned a profit of 54,000 for the year ending May 2001.

This follows a loss of 68,000 the previous year. The turnaround in fortunes is attributed to an increase of 3000 tonnes to a record 45,000 tonnes of grain traded.

Turnover for 2000/01 was 7.3m, up 900,000 on the year. Directors have recommended that share and loan interest be paid out at 6% and 5% respectively.