Ruralco is wholly-owned by ATS, the Ashburton co-op holding group.
Chairman Alister Body said the operating profit before interest and depreciation was $1.4 million and the surplus before rebate was $870,000, more than double the previous year’s result.
Ruralco increased market share during the year, both through rural trading outlets and the card supplier network that now has national coverage.
It has invested in technology to make the business more efficient and all business units achieved revenue growth.
Governance changes have also been made with two independent directors now working alongside elected farmer directors.
There are six candidates for two elected-director positions at the annual meeting in Ashburton on November 20.
