Federated Co-op weathers 2020

SASKATOON — Federated Co-operatives Ltd. reported revenues of $7.9 billion for the financial year ending October 31, 2020, with earnings of $177 million. From these earnings, FCL returned $117.5 million to local Co-ops across Western Canada. Strong results in the food, home, and building and agriculture business lines were not nearly enough to offset substantial declines in the energy sector. “I’m proud that FCL and our local Co-ops have confronted this year’s challenges head-on and we have continued to meet the needs of Western Canadians,” CEO Scott Banda said in a release.