The CBH Group has reported a strong year for 2015-16 with a pre-rebate surplus of $110.2 million. Net Profit After Tax (NPAT) was $49.8 million while rebates to growers totalled $62.7 million.
Over the 2015-16 year the co-operative and BCCM member managed a harvest of 13.6 million tonnes – equalling the state’s fourth-largest on record. CBH also invested $132.4 million into capital and maintenance across the storage and handling network.
CBH Group Chairman Wally Newman said it had been a busy year with highlights including the introduction of CBH’s Network Strategy and investment into oat processing in Western Australia.
“During 2016 we demonstrated our dedication to growth along the supply chain with the announcement of a new oat processing facility in Western Australia and continued to support our local communities through $1.8 million of funding through sponsorships and grants.
CBH Group Chief Executive Officer Dr Andy Crane said the pre-rebate surplus result of $110.2 million was a positive outcome and very much due to another above average harvest.
“It’s important to note that we were able to provide $62.7 million of rebates to growers from the 2015-16 financial year, which is a pleasing result,” Dr Crane said.
Dr Crane said the co-operative’s investments continue to be an important part of CBH’s ability to deliver more value to growers.
Read more (subscription needed):
Co-op may stay private: CBH boss Andy Crane, The Australian, 10 January
Bumper crop keeps CBH co-op safe for now, AFR, 10 January
CBH Group splashes cash across WA as bumper crops boost profits, AFR, 9 January