Higher commodity prices and solid volume growth in most GROWMARK business units produced record sales for GROWMARK, as officials reported audited financial results for the fiscal year which ended August 31, 2012.
Marshall Bohbrink, vice president, finance, risk management, and chief financial officer, reported net sales of $10 billion for the 2011-2012 fiscal year, the highest in company history. Net income attributable to GROWMARK was $243 million, the second highest level in history. Total patronage in the amount of $158 million was returned to GROWMARK member-owners, also a company record.
GROWMARK also shared a good amount of that income with an important program for education about agriculture.
GROWMARK and its FS member cooperatives recently renewed its commitment to Illinois Agriculture in the Classroom programs with $75,000 in support. At a recent meeting of the Illinois Farm Bureau Board of Directors, GROWMARK CEO Jeff Solberg shared thoughts on the GROWMARK System’s ongoing efforts to support agriculture and agriculture education and literacy.
“GROWMARK and Illinois Farm Bureau have an 85-plus year relationship of mutual respect and support. Teaching young people about agriculture has been a common bond throughout our historic relationship. As more Americans are further removed from the farm, bringing the facts about farming to students at an early age is vital,” Solberg said. “We are proud to support Illinois Farm Bureau’s Ag Literacy efforts, as they are at the forefront of bringing that message to students, who in turn share their new-found knowledge with their parents.”