Basin Coop Inc. had a 22% increase in sales and a 39% increase in net savings for the year that ended Feb. 28 compared to the previous period. The record sales were $40,125,107 and the record savings, which is net income, was $2,422,031.
Members are receiving $873,000 in patronage savings, all in cash, about 6.3% of their purchases.
The record year was led by sales in gasoline, diesel and propane (about 55% of sales), with strong gains in fertilizer, feed, grain and seed. Fencing was flat at about $1 million, tack unchanged at $136,000, and wire and twine up slightly at $275,000. Animal health at $242,000 was down.
The significant gains in some sales were the result of higher wholesale prices, especially for fertilizer and fuels. Fertilizer comes from natural gas, which soared in price last spring.
A fork lift and a slightly used pickup were capital expenses during the year.
Don Dukart, co-op’s general manager, highlighted the co-op’s finances at its 71st annual meeting earlier this week.
Improvements during the current year will include refurbishing the Ampride station store and acquiring property in Pagosa Springs to provide bulk storage for propane deliveries in Archuleta County.
Three board members, Gary Zellitti, Dan Huntington and Steve Pargin, were reelected without opposition. Bentley Colbert continues to chair the board.