[1 November/ODT Rural Life]

Rural supplies and services co-operative, Farmlands, has announced its annual results with revenue increasing more than 10% to $2.39 billion and profit increasing to $12.2 million. The strong financial result has enabled Farmlands to reintroduce a year-end rebate for shareholders, with $6.1 million to be distributed split between a cash payment and a share issue. During the year shareholders also benefited from monthly rebates of $91 million. CEO, Peter Reidie, highlighted the co-op’s winning of the KPMG Customer Experience Excellence award for New Zealand as a great boost to staff morale as it demonstrates that the co-op is moving from good to great and delivering on its strategy.