Co-op sales continue at record level

  • Jan. 17, 2007 6:00 a.m.

For the second year in a row, Delmas Coop has had record sales, according to its latest financial statement. The member-owned cooperative, with branches in Masset and Skidegate, sold $11,816,038 worth of merchandise in the fiscal year ending last September 30, up $215,032 from the year before,
Costs were up as well, to $8,804,016, from $8,658,693. Higher standby costs, staff costs and interest expense contributed to the higher costs.
The bottom line showed less profit, or ‘savings’ as the customer-owned cooperative likes to call it. This year, its financial statement shows savings from operations of $349,026, down from $394,058 last year.
The Coop’s operations in Masset accounted for the lion’s share of the sales, with $8,355,924, up slightly from last year. The Masset branch recorded savings of $301,848, down from $355,326 previously.
The Gwaii branch in Skidegate saw sales rise to $3,480,114, up $204,692 from last year, contributing $47,178 in profit or savings. That was up from just above $38,000 the previous year.
The Coop has had sales of over $10-million per year since 1995. Its most profitable year was 2002, when it reported just over $700,000 in savings.
The complete annual report should be available soon at both stores. The organization’s annual general meeting is Sunday January 28 in Masset.