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CBH Group records strong result for 2016

The CBH Group has reported a strong year for 2015-16 with a pre-rebate surplus of $110.2 million. Net Profit After Tax (NPAT) was $49.8 million while rebates to growers totalled $62.7 million.

Over the 2015-16 year the co-operative and BCCM member managed a harvest of 13.6 million tonnes – equalling the state’s fourth-largest on record. CBH also invested $132.4 million into capital and maintenance across the storage and handling network.

Report shows strength of co-operative sector in New Zealand

A new report mapping the size and scale of New Zealand’s co-operative economy has found the sector contributes revenues of more than $42.3 billion per annum to the country’s economy.

The Top 30 co-operatives and mutuals responsible for 1.4 million memberships, employment of 48,500 people, and a revenue to GDP ratio of 17.5 per cent. The report, The New Zealand Co-operative Economy, is a collaboration between Co-operative Business New Zealand and researchers from Massey University and the University of Auckland.

Deloitte report finds work to be done on banking reform

A Deloitte Access Economics report commissioned by the Customer Owned Bank Association (COBA) has found there has been limited progress on many Financial System Inquiry (FSI) recommendations handed down two years ago.

The report also considered the recent Senate Economics Reference Committee inquiry into co-operative, mutual and member-owned firms, noting its recommendation that government consider the impact of regulation on CMEs.

Newcastle Knights consider community ownership model

The Newcastle Knights may follow international sporting heavyweights including FC Barcelona and the Green Bay Packers in moving to a fan ownership model. Under a proposal called Our Knights, One Chance, 40,000 shares of $500 would be offered to fans and businesses.

The aim is to raise at least $15 million, helping to secure the long-term sustainability of the club. Ownership by any individual or business would be capped at 4 per cent.

Upcoming events

27-28 February 2017: C4CE Community Energy Congress

For all the latest news from the co-operative and mutual sector, please visit the BCCM website and for information on how to run and set up a co-operative, visit Get Mutual.