A wet harvest put a damper on an otherwise excellent year for Clearview Co-op, according to the general manager.
Clearview Co-op hosted its annual general meeting on Thursday, May 14 online. Total profit was $14 million, general manager Henry Nickel said, which is about $4 million less than last year. Total assets came to $87.5 million, up about five percent from last year.
Clearview Co-op General Manager Henry Nickel said the total distributed dividend was $7.3 million.
"It’s a little bit less than last year, but the second best year in the last ten years," Nickel said.
Other Co-ops in western Canada were affected by similar wet weather conditions, Nickel said, and could have some influence on dividends.
"You still have the same expenses," Nickel said.
The Agrocentre produced $3.3 million.The grocery store in La Broquerie has nothing to do with 2019 as the Clearview-La Broquerie amalgamation took place officially on the first day of the Co-op’s fiscal year, Nickel said.
Economic slowdown is likely to affect 2020 figures, Nickel said. Gas sales in 2020 have been affected significantly, especially as people haven’t been travelling.
Petroleum sales are an important revenue generator for Clearview, Nickel said.
"We’re working on spreading our business around but fuel is still a big one," Nickel said.
The Co-op usually gets about 100 to 150 new memberships a month.