Agronomy was a big reason GROWMARK had one of its best year’s ever this year. This company news release says Fiscal Year 2014 was in the top five income years in company history, with volume records in agronomy, coupled with significant investments in information management technology and infrastructure improvements leading to the success.
Marshall Bohbrink, vice president and chief financial officer, reported record sales of $10.4 billion; consolidated pretax income of $194 million; and total patronage in the amount of $112 million will be returned to GROWMARK member-owners.
“GROWMARK is in extremely strong financial condition and we are well positioned in the event the Ag economy is more challenging in the next few years,” said Bohbrink.
Key highlights of FY2014 operational results include:
GROWMARK Agronomy reported record plant food volume with an overall increase of 6 percent. Seed reported record seed corn unit sales, which increased 11 percent, along with a 15 percent increase in soybean units.
GROWMARK Grain reported a 32 percent increase in grain volume for FY 2014.
GROWMARK continued to emphasize significant investments in energy and plant food terminals, grain systems, and other assets all designed to improve efficiency and support customers.