The Drumheller Co-op has taken a hit to its bottom line in this tough economic time.
The 54th Annual General Meeting of the Drumheller Co-op was held Wednesday night, April 20. The membership learned that sales dropped just over $6 million in 2015 compared to 2014. The bulk of this came in the Co-op’s Petroleum Department sales, which general manager Brent Walker outlined in his annual report.
“World- wide economic turmoil and uncertainty resulted in a number of challenges last year,” said Walker. “Price deflation of petroleum products and consumer confidence resulted in over $5 million sales decrease to our Petroleum department.”
Federated Co-op also faces the same challenges.
“Our supplier, Federated Co-operatives Limited, has had the same negative impact to their operations which resulted in dramatically lower patronage refunds to the CRS.”
The dry spring in 2015 also resulted in a drop in the Agro Department.
Last year, the Co-op posted $38.8 million in sales. The Foods Division appeared to hold its own, posting $7,075,915 in sales, up $194,867 from 2014.
This year the Co-op received a patronage refund of $1,843,331 from Federated Co-op, down from $2,357,941 last year.
It was a year of change for the Drumheller Co-op.
Previous general manager Gord Van Kannel tendered his resignation effective as of February 5.
The Co-op has welcomed Brent Walker, who started on March 28. His career at Co-op began in Stettler, which was part of the Drumheller Co-op at the time. He has 28 years experience with Co-op, most recently in Rocky Mountain House.
Last year also saw the completion of an extensive renovation to the Home Centre, with the roof repair being finished last summer. The Federated Co-op Bulk Distribution Centre in Rumsey is up and running and proving to be an asset.
Looking forward to 2016, the Drumheller Co-op is planning an extensive renovation to its Drumheller Cardlock. This will include the removal and decommissioning of the above ground tanks, and the installation of underground tanks to make the site cleaner and add access for more customers to fill at the same time. The cost of the project is about $1 million and will take three months to complete this fall.
There was an election for five vacancies on the board of directors. Ken Leonhardt, Tina Mraz, Dalton Madsen, Barry Fullerton and Eric Poettcker were elected.
The membership was treated to a presentation from Jordan Armstrong who attended the Alberta Community and Cooperative Association Youth Leadership Camp last summer.
