Growmark has announced estimated total sales in fiscal 2007 of $4.2 billion, up 23.5% from the $3.4 billion recorded in 2005/06. This figure represents a new company record. Net income has also increased, by 82.3% to $134 million, which represents an all-time high for the company.
According to the company, the Energy Division, including ethanol and biodiesel, reported a record year in terms of sales at $130 million. This was driven by strong growth in sales of several products including FS branded lubricants.
The agronomy/seeds division also showed an increase, mainly due to the increased US corn acreage and higher market share. This saw plant food volume sales reach record tonnage levels and, although soybean sales dropped by 10%, seed sales overall increased by 25% to $160 million, with corn seed unit sales up 50%.
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