Members of Battlefords and District Co-operative Ltd. are in line for a total allocation of $1.68 million to member share accounts.
That is up from $1.56 million from the previous year. For the fiscal year 2010, an allocation of one per cent will be made on Agro purchases, 5.77 per cent on fuels/propane/lube purchases, 2.55 per cent on Marketplace purchases and 1.5 per cent on Home Center purchases.
The numbers were revealed at the Battlefords Co-op annual general meeting held on April 27, in reports submitted by both the president of the board of directors Randy Graham and General Manager Pat Smith.
As well, Battlefords Co-op achieved record sales for the fiscal year ending Jan. 29. Sales were $66.2 million compared to $60.8 million the year before, an increase of $5.4 million or 8.8 per cent from fiscal 2009.
"The Co-op had a very successful year across the board," said Smith in speaking to the Regional Optimist Monday. "We continue to improve our bottom line."
Smith said the Co-op can expect to see more renovations and improvements at the current location at Territorial Mall.
"We're looking at doing a modernization of the interior of the mall," said Smith, which will include expansion of the pharmacy.
The Co-op Pharmacy acquired the assets of Inter-City Pharmacy (1998) Ltd. earlier this year, taking over its inventory and prescription list.
The Co-op also plans to replace their propane site in the coming year. Previously the car wash had been modernized, and renovations at the gas bar were done the year before, said Smith.
The year 2010 also saw over $1 million in equity paid back to members who had moved, reached age 70, reached their equity cap of $14,250, estates and our third consecutive general cash repayment which amounts to $440,000, in line with the Co-op's Equity policy. A total of 545 new members were welcomed.
Smith anticipates that by the end of the year the Co-op should have a little higher cash payment to members compared to last year, but adds that won't be determined until much later this year.
