CRV ended the financial year 2013–2014 with a net result of EUR 6.7 million before distribution of members’ profits. This was achieved in particular thanks to expanding sales combined with more efficient management.
The growth in sales and profits came in a year in which CRV reinforced its position in herd management. Sales rose partly as a result of a very strong supply of bulls and partly due to an increasing demand for management products. CRV’s ongoing innovation and development, also in the field of genomics, is clearly bearing fruit.
Products and services were improved as part of herd management and several innovations were introduced, including new fertility solutions that are widely used in the market.
Backed by an excellent product portfolio and the full implementation of CRV’s performance improvement programme, all CRV Business Units reported improved financial results. In most parts of the world the market conditions were favourable, with high pay outs for both dairy and beef commodities. However, even in markets where conditions were less favourable, the CRV business model was robust enough to show financial improvements.
CRV will further develop its herd management portfolio and strengthen its leading position in this field in 2014–2015.