This is a historic year for the Société coopérative agricole (SCA) de Princeville, which recorded a record turnover of $ 15.5 million for its fiscal year which ended on October 31, 2020.
This is the report presented to the members by videoconference by the president, Laurent Labranche, and the general manager, Ian Vigneault, during the 83e annual general meeting of the cooperative.
Sales of $ 15.5 million, up 8%, represent $ 1.1 million more than the previous year and $ 700,000 more than the record set two years ago.
The cooperative shows a net surplus of $ 316,689 in 2020 compared to $ 4,736 in 2019 and $ 232,630 in 2018. Members will thus be able to share a total rebate of $ 186,573. It should be noted that no rebate had been paid during the previous fiscal year.
Exploding prices and sales
“With a very ordinary first quarter, no one could have predicted that the year 2020 would allow us to break all records,” said the president of the cooperative, Laurent Labranche.
General Manager Ian Vigneault attributes part of this excellent performance to the buzz in the construction sector caused by the pandemic crisis and an increase in the price of materials as well as the price explosion in the grain sector. The arrival of new customers at the flour mill and sound management of plant sector expenses were also contributing factors.
Being part of the list of businesses deemed essential by the Legault government, Mr. Vigneault recalled how the cooperative had to adapt to the COVID-19 era, quite an ordeal for all, with the implementation of health measures that did not necessarily make customers happy with social distancing followed later by the wearing of the compulsory mask.
2021 is off to a good start
As for the year 2021, Mr. Vigneault is already expecting a good summer period. “We are already ahead of our 2020 figures,” he said.
If there are no major projects on the horizon, the cooperative intends to renovate the roof of the hardware store on rue Mgr Poirier. It has also already invested $ 200,000 in improving its delivery service.
SCA is also finalizing a partnership with its new supplier for the distribution of propane, which will allow it to offer competitive prices to its members and customers for 2021. COVID-19 has disrupted the deployment of this project in 2020.
Mr. Vigneault took the opportunity to thank the group of employees who redeveloped a brand new plumbing area at the hardware store with demonstrators of vanities, baths and showers.
The general manager pointed out that it is $ 140,000 that the cooperative has also invested in the facade of the hardware store.
The president of the cooperative concluded by congratulating the Flèche d’Or farm in Princeville for its recent appointment as Holstein Master Breeder.
Note that the number of mutual members increased from 131 to 138 in 2020 and that the number of auxiliary members remained at 360 for a total number of members of 498.
Finally, the members voted a resolution to postpone the elections to the board of directors for one year. The outgoing directors Laurent Labranche (president), Michel Thibodeau (vice-president) and Michael Schmucki remain in office for one more year.
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