On Aug. 26 in Chicago, GROWMARK officials reported unaudited, estimated results for the fiscal year that ended August 31, 2011. Jeff Solberg, chief executive officer, announced estimated sales of $8.4 billion for the 2010-2011 fiscal year. GROWMARK net income is estimated to be $182 million.
“2011 was a great year for the GROWMARK System,” Solberg said. “The company generated the highest level of sales and the second highest level of pretax income in company history.”
“These results are attributed to a very strong group of member companies committed to a highly successful cooperative system, supported and served by a great team of very knowledgeable and dedicated employees,” he said.
An estimated $80 million in patronage refunds will be returned to GROWMARK member cooperatives and farmer-owners.
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