Saskatoon, Canada, 2015-7-3 — /EPR Retail News/ — Federated Co-operatives Limited’s (FCL) record revenue in 2014 has placed it in the top 50 of the Financial Post Magazine’s rankings of the 500 largest companies in Canada for the third year in a row.
Based on 2014 financial results, FCL earned $10.8 billion in revenue, an increase of 15 per cent from 2013. This places it 43rd on the magazine’s rankings, up two spots from last year. FCL ranks 27th for its return on assets (9.9 per cent).
“Our success is based upon working together with our member retail co-ops,” said FCL CEO Scott Banda. “Through these relationships and forward-thinking strategies, we’re providing long-term sustainable value for our members.”
FCL experienced growth in all strategic business sectors – energy, food, home and building supplies, and agro. This growth was aided by the acquisition of operational assets from Viterra in late 2013 and Sobeys in February 2014, which were subsequently transferred to individual retail co-operatives.
In 2014, FCL completed major capital projects, such as the Carseland petroleum terminal near Calgary, which will contribute to the continued growth and efficiencies of the Co-operative Retailing System (CRS). FCL also continues to support CRS members during their renovation and new construction projects.
Over the past 10 years, FCL has provided patronage allocations worth $4.4 billion to its members. The money is reinvested by local co-ops into their operations to address the needs of 1.6 million active Co-op members and many other customers in 500 communities throughout Western Canada.