CRT bonus for farmers

South Island farmer-owned co-operative retailer Combined Rural Traders Society (CRT) has reported its best full-year result: an operating surplus of $13.7 million, up from $13.2m last year.

CRT chairman Don McFarlane said the result was achieved on total revenue of $388m, up 7 per cent on last year.

The co-operative has 19,000 shareholders across the South Island and $10.5 million of the co-operative's operating surplus was paid out to them over the year in the form of rebates. That left a year-end profit of $3.2m.

The co-operative also announced a $2.4m bonus rebate to members.

"This bonus rebate reinforces the benefit for farmers trading with their own organisation as profits are distributed back to them," McFarlane said.

- NZPA