Archive - Wednesday, 2 April 2003


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Co-operative reports 'solid' profit

FARMER co-operative Farmway has reported a profit of more than £250,000 for 2002.

Chairman John Hutchinson said he was pleased with this "solid performance considering the general level of profitability in the supply industry".

He pointed out that despite a £3m reduction in turnover on the previous year, the profit margin improved. The board is recommending payment of 3.5pc interest on members' share capital.

Current chief executive Dr David Loane is retiring and handing over to senior finance manager Peter Hull.

Updated: 14:47 Wednesday, April 02, 2003




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