Annual General Meeting

Strategic Report

for the year ended 30 September 2025

The chair presents his strategic report for the year ended 30 September 2025.

Being a farmer owned business can sometimes come with its own challenges. Equating the need to make profits for reinvestment verses the member’s needs for competitive pricing at all times is one such. It is a conundrum often debated at board meetings. Both are important arguments that drill down to the core of why agricultural co-operation has been successfully employed in Wales and the borders for over a century. Without reinvestment, an organisation is bound to diminish slowly and become irrelevant to its membership. However, without competitive pricing and service, our members will quickly use their purchasing power to send a message of disapproval.
I would note that the dividend paid during the year, based on profits reported in 2024, represented a 60% return of the profits to our members who were in terms at 30th September 2024, further highlighting the benefits of Co-operative trading.
I am confident that in the last year you will have seen various improvements to the way we operate as the executive and the board invest in achieving our overarching strategic goals. Those traveling along the A40 towards Carmarthen will no doubt have noticed the first new branch opened by CCF in the last 9 years. Carmarthenshire has not been served with store level co-operation for the last 13 years, and it has been a long-standing objective of CCF to fill this obvious void in one of Wales’s most important and productive agricultural areas.
Further north, we have seen a substantial property investment at our Cardigan branch which will allow us to better stock the branch and allow for some extra space to further develop member services. By the time you read this report, CCF will be operating on a new IT system. Staying ahead of ever evolving technology is critical to a trading business like ours.
Hopefully, you as members will have had minimal interruptions to your everyday trading patterns but as the new system beds in, we hope it will not only add value to the running of the business but also members businesses too. Change is never easy and I would like to put on record the boards thanks to all our staff for the rather seamless and professional way they have adopted the new working systems.
As a board, we are focused on representing our membership to the best of our ability. Communicating with members and understanding their needs and challenges is an incredibly important part of being a board member, wherever they farm.
I am delighted to report that we were able to hold a recent board meeting in Caernarfon, followed by a farmer member meeting in the evening. It lifted the spirits to realise that the strength of feeling towards co-operation is as strong in North Wales as any other part of CCF’s trading area. It was a valuable interaction and one we will repeat in other parts of the country in the coming year.
Lastly, I would like to convey sincere gratitude of the board to each one of the people who turn up to work at CCF on a daily basis. Led by David and his senior management team, these are the people that make sure your farm inputs arrive on farm. They very often go beyond the call of duty to ensure day-to-day farming is not interrupted. One thing that has struck me this year is how CCF is so very integrated in the communities we serve. Regardless of markets and external factors, the people behind the counter at the local branch or the person at the end of the phone genuinely want the best for their local businesses and communities. That is, of course, how it should be. We are owned by you, and we will always be working for you.

Chief Executive’s Statement

The past year has been one of purposeful progress for CCF, shaped by the dual responsibility at the heart of every farmer-owned co-operative: delivering competitive value to members today while investing in the long-term strength of the business. As the Chair has rightly highlighted, balancing these priorities is not always straightforward, but it remains essential to our identity and our success. I am pleased to report that 2024/25 has been a year in which we have made meaningful strides on both fronts and increased turnover by almost 10% to just under £70m.

Strengthening our branch network

The opening of our new Carmarthen branch marks a significant milestone for the organisation. Establishing a physical presence in Carmarthenshire has been a long-held ambition, and it is gratifying to see this finally realised. Early feedback from members has been extremely positive, and the branch is already demonstrating the value of local, co-operative service in one of Wales’ most productive agricultural regions.
Similarly, the investment at Cardigan represents our commitment to ensuring that our existing network remains fit for purpose. The expanded storage capacity and improved layout will allow us to broaden our product range, enhance availability, and create opportunities for new member-focused services. These developments are not simply property upgrades—they are strategic investments in the future resilience of our co-operative.

Modernising our systems and processes

This year also saw the implementation of our new IT system upgrade project, one of the most significant operational changes undertaken by CCF in recent decades. Introducing new technology into a live trading environment is never without challenge, but the transition has been handled with professionalism and dedication across the organisation.
The new system will provide a stronger platform for stock management, financial control, and customer service. Over time, it will also enable us to introduce new digital tools that support members in managing their own businesses more efficiently. I echo the Chair’s thanks to our staff for their adaptability and commitment throughout this process.

Engaging with members across our trading area

A co-operative is only as strong as the relationship it maintains with its members. The board’s recent visit to Caernarfon, followed by a well-attended member meeting, was a powerful reminder of the depth of support for co-operation across Wales. It also reinforced the importance of listening—really listening—to the needs, pressures, and aspirations of the farmers we serve.
In the year ahead, we will continue to prioritise direct engagement with members in every region. These conversations shape our strategy, inform our investments, and ensure that CCF remains relevant and responsive in a rapidly changing agricultural landscape.

Our people: the heart of the Co-operative

The Chair has spoken warmly about the dedication of our staff, and I would like to add my own appreciation. Whether delivering to farm, managing stock, advising at the counter, or supporting operations behind the scenes, our team consistently demonstrates a level of commitment that goes far beyond the transactional. Their connection to the communities they serve is genuine, and it is one of CCF’s greatest strengths.
As we continue to grow and modernise, maintaining this culture of service will remain a central priority. It is what sets us apart, and it is what ensures that members feel the value of co-operation every time they interact with us.

Looking ahead

The agricultural sector continues to face uncertainty—from market volatility to policy change and the ongoing pressures of on-farm costs. Against this backdrop, the role of a strong, well-run co-operative becomes even more important. Our focus for the coming year will be on:

• Consolidating the benefits of our new IT system
• Continuing to strengthen our branch network
• Enhancing product availability and pricing competitiveness
• Expanding member engagement across all regions
• Ensuring any trading surplus created is either redistributed amongst farmer members, not city shareholders; or invested in projects to enhance member value or experience.

CCF exists to serve its members, and every decision we make is guided by that purpose. I am confident that the foundations laid this year position us well for the challenges and opportunities ahead.
Thank you for your continued support, trust, and commitment to the co-operative.