All Points sets another record sales amount
Bottom line profit for All Points Cooperative, bolstered by $236,060,675 in sales, totalled nearly $7.6 million in 2012.
That figure tops almost $7.5 million in 2011.
Because of increased business by patrons and customers buying products from the agricultural cooperative, general manager Ed Foster said All Points set another sales record.
Revenue for 2012 was $28,757,641.
Because of the cooperative’s success, Foster said patronage refunds will total $4,457,040 with 50% of that amount ($2,228,520) paid in cash.
Patronage is end-of-the-year earnings divided into petroleum, fertilizer and grain that is returned to buyers, in both cash and equity, of All Points goods.
Despite two elevator explosions in the past five years, assets have grown.
At the year’s end, according to Brandon Stevenson of Stevenson & Associates in Lincoln, the cooperative had $95,954,153 in assets compared to $88,291,278 in 2011 for an increase of 8.6%.
In 2010, when the second explosion occurred, assets totalled $84,739,939.
Bushels marketed topped out at 15,337,763 last year which was slightly lower than in 2011 when 16,492,448 bushels of grain were marketed.
But the amount was much higher than the 2010 number of 14,426,361 bushels.
Past year highlights, Foster noted, were additions to the cooperative’s dry fertilizer facilities which increase speed and space.
Foster said $6,351,763 was spent on fixed assets, for facilities and on rolling stock.