Federated Co-operatives Limited is reporting $7.9 billion dollars in revenues; this, in the face of economic challenges brought on by the COVID-19 pandemic and a global downturn in energy demand. The company says they have just gone through one of the most difficult financial years in the company’s recent history.

Earning came in at $177 million. From these earnings, $117.5 million was returned to local Co-ops across Western Canada. FCL says there were strong sales in food, home and building, and in agriculture business lines.
However, it says these were not nearly enough to offset the substantial declines in the energy sector.

Federated also invested about $8 million in community projects throughout the year.

FCL is based in Saskatoon and is owned by more than 160 autonomous local co-operatives across Western Canada.