FCL reports strong results for a tough year

Federated Co-operatives Ltd. says it recorded nearly $9.1 billion in revenue and $495 million in earnings for the fiscal year 2021. Those results were up from $7.9 billion and $177 million, respectively. From those earnings, FCL will return $353.5 million to local Co-ops across Western Canada. In a release, CEO Scott Banda said it was “remarkable how the Co-operative Retailing System continues adapting to ever-evolving circumstances.”