Energy was a big reason that regional cooperative GROWMARK had such a big year this year. This company news release says Fiscal Year 2014 was in the top five income years in company history, and a lot of the credit goes to record volumes in the company’s propane and biofuels business.
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 Energy reported record fuel volume with an increase in gasoline and distillate sales of 11% and an increase of 29 percent in propane gallons.