CBH Group posts strong financial result

15 January 2016

Yesterday, the CBH Group, Australia’s largest co-operative business and BCCM member, released their 2015 Annual Report showing a strong financial result with a net profit after tax of $82.7 million. During this time, CBH Group received and shipped the state’s fourth largest harvest on record (13.6 million tonnes) in what was a tough trading environment globally. The co-operative has 4200 grain grower members, with 145 receival locations, 4 port terminals and 30 global markets.

CBH Group Chairman Wally Newman said the Board had invested $177.4 million in capital expenditure and maintenance on the network, as well as executing a number of new growth opportunities in 2015.

“We’ve focussed on lowering our costs to serve, driving better prices and generating greater returns from investments,” said Mr Newman.

“The CBH Group also developed a network proposal to deliver an efficient and cost-effective network into the future which this year, during its final phase, will be tested to ensure this investment is being made in the most prudent way.”

CBH Group Chief Executive Officer and BCCM Chair, Dr Andy Crane said that the positive financial result was not only the product of a large crop but of a dedicated focus on managing costs and driving operational efficiencies.

“During 2015 we reconfirmed our purpose and set in place clear measures of performance that will ensure a continued focus on current and future generations of growers,” said Dr Crane.

“Our key measure of performance is the dollar per tonne charge for storage, freight and port fees minus rebates of charges generated from CBH’s other investments.  This puts our growers and their competitiveness at the very centre of every decision we make.

“Last year also saw a record investment into rural and regional communities, with the CBH Group’s Community Investment Program providing $1.6 million of funding towards enriching the lives of those living in communities in which CBH operates, something we are very proud of,” Dr Crane concluded.