FCL reports $781 million in net earnings for 2023

Federated Co-operatives Limited (FCL) reported net earnings of $781 million for 2023.

The Western Canada co-op’s sales totalled $12.5 billion, per its annual report. FCL distributed $399 million in patronage back to local Co-ops.

“Sharing our financial success is one way we generate value for local Co-ops and the communities they serve,” said CEO Heather Ryan during FCL’s 95th annual meeting on Monday (March 4). “Through the distribution of our earnings, local Co-ops are able to pass the benefits on to Co-op members and communities across Western Canada. The value proposition of Co-op, when people support Co-op, they’re supporting their community.”