Eldora, Iowa-United Suppliers Inc. reported sales of $992 million for the year ending Sept. 30, 2007, a 20 percent increase over last year’s sales of $829 million. After-tax earnings for the company were $50.2 million for the year, up 64.6 percent from 2006’s $30.5 million. Maurice L. Hyde, company president, attributed the increase in sales to increased utilization of insecticides and fungicides and an increase in corn acres. All three wholesale areas – agricultural chemicals, fertilizers, and animal feed – grew their market shares, Hyde reported. United Suppliers operates full-service retail outlets at more than 40 locations in Iowa, Missouri, Nebraska, and Wisconsin. The company is owned by retail farm supply dealers, and owner/membership by year-end 2007 consisted of 959 retail entities located in 17 Midwestern states. Patronage dividends to owner/members exceeded $42 million for the year, a 61 percent increase from the previous year. Membership equity exceeded $112.2 million at year-end, and after-tax returns on beginning of year equity remained strong at 52.9 percent. “We continue to be encouraged by our financial and relationship-building success and are confident that we have a solid foundation for future successes,” Hyde said. “We are confident that our proven business model and down-to-earth, no-nonsense business philosophy of ‘uniting resources and supplying solutions’ will provide an avenue for shared successes with our owners/members.” The fiscal year ending Sept. 30 was the company’s 44th year in business.
Transparency Across the Fertilizer Value-Chain