Otter Co-op Board of Directors is pleased to announce their 2016 year end results, with an allocation to member/owners amounting to $5,027,158 in equity and cash.
Otter’s audited year-end sales totaled $206,036,438; a 3.2 per cent increase over the previous year.
This also marks the seventh year in a row of record sales growth.
The board approved an allocation rate of 3.52 per cent back to member/owners based on their purchases in 2016, and this amounts to over $5 million in equity and cash going directly back to those supporting the Co-op.
“This is a direct result of the power of our membership, and the loyalty of our shoppers and guests, and Otter thanks all those who contributed to our success in 2016,” said general manager Jack Nicholson.
“We are looking for another record breaking year in 2017. We look forward to seeing you at our annual meeting, to be held at D.W. Poppy School on Wednesday, May 31, beginning at 6:30 p.m.,” said Nicholson.
