Lucknow Co-op showcases successful year at annual general meeting

LUCKNOW, Ontario, Feb. 25, 2020 (GLOBE NEWSWIRE) -- Completing its 75th year of success, Lucknow District Co-operative reported excellent financial results for 2019 at its Annual General Meeting on Jan 16, 2020, at the Lucknow Community Centre.

Lucknow District Co-operative president David Gibson reported sales over $19 million with a strong emphasis in energy and agronomy; and announced, for a second year in a row, $500,000 in patronage will be paid out to its member-owners. Patronage will be paid half in cash and half in class A shares. “Despite a very mixed bag of weather, a late harvest and unfinished crops, we had another excellent financial year,” says Gibson. “The bulk propane distribution facility exceeded every expectation and contributed to our success this year.”

In 2019, the Lucknow District Co-operative was recognized by GROWMARK, Inc. as the first-place recipient for their Management Excellence Award. This award recognizes top financially performing members and retail divisions of GROWMARK, Inc. The Management Excellence Award is a combined measure of operating expense efficiency and system support.  

“Providing good patronage back to our members continues to show that our investments in capital improvement and continually looking for efficiencies in our work pays off,” says Lucknow general manager Allan Scott. “Receiving the GROWMARK Management Excellence Award is a great showcase to all of our hard work throughout the years.”

Newly elected to the board was Perry Van Osch of Lucknow. Fred Durnin retired from the board after 9 years as a director. Reelected to the board were; Andy Phillips and Murray Curran of Dungannon, Brad Gilchrist, Warren Andrew and Glen Gibson of Lucknow, and James Dickie of Wingham. The president is David Gibson of Ripley and the vice president is Martyn VanMeeteren of Teeswater.

Lucknow District Co-operative Inc. was established in 1944. The co-operative provides its more than 1,800 members and customers of Huron and Bruce Counties with livestock feed, agronomy products and services, consumer goods, including hardware and clothing, and petroleum products and services. It also offers customers AIR MILES® reward miles on qualifying purchases. Lucknow Co-op is a shareholder-owner of GROWMARK, Inc. and markets products and services under the FS banner.

® Trademark of AIR MILES International Trading B.V. Used under licence by Loyalty Management Group Canada, Inc. and the LUCKNOW DISTRICT CO-OP INC.

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