LOS ANGELES — Unified Grocers here said net earnings hit record levels for the fiscal year that ended Sept. 27, climbing 20.6% to $17.4 million. Sales jumped 31% to $4.1 billion, with $805.7 million coming from business gained in the Pacific Northwest from Unified’s acquisition a year ago of Associated Grocers, Seattle, and $165.6 million from continued growth in the company’s customer base, new customer business outside of AG and inflation.
The member-owned cooperative said the exchange value of members’ shares at year’s end was up 11.5% to $273.97, driven by strong results at the company’s subsidiary businesses.
According to Al Plamann, president and chief executive officer, “While we expect 2009 to be difficult and challenging, we believe our company is well-positioned to endure a weaker economy. In times like these, our independent retailers shine because of their ability to quickly adapt to fast-changing market conditions.”
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