Federated Co-op has strong financial report for 2022

 

Federated Co-op is reporting a strong financial year in 2022.

Federated Co-op had total sales of 12.5 billion dollars, a 38 percent jump from 9.1 billion dollars in 2021.

Net earnings for the year reached 411 million dollars, allowing FCL to return a 348 million dollars patronage allocation to local Co-0ps.

There are more than 2 million local co-op members across Western Canada.

CEO Heather Ryan told the annual meeting Co-op has finalized the acquisition of 171 Husky retail sites to serve new communities.

She adds Federated Co-ops continue a commitment to investing in renewable fuels, agriculture and carbon capture.

Co-ops in western Canada have 15 hundred retail locations in more than 630 communities with a workforce approaching 25 thousand people.

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