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Farmlands signals solid year with $2-million bonus

Media Statement September 24 2003

Farmlands signals solid year with $2-million bonus rebate

New Zealand’s largest rural retail co-operative Farmlands Trading Society will return an extra $2 million as a bonus rebate to its members despite the difficult farming year.

Farmlands Chief Executive John Newland said the rebate is another positive signal of the company’s solid performance, in one of the rural sector’s most challenging years in more than a decade.

“Our annual result next month will further support the gains Farmlands has achieved in retailing and the increasing strength of our membership”.

The rebate recognises members’ loyalty and investment in the company, he said.

Bonus rebates have been paid in nine of the last 10 years, with individual payments based on the amount members have spent at Farmlands. This will see some members receiving up to $4000.

Farmlands 2003 annual result will be announced on October 15.

Ends

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