AGM: Good performance by The Cope, Dungloe

AGM: Good performance by The Cope, Dungloe
The Cope AGM covering the year ending 31st January 2013 was held on Monday 12th August 2013 at An Club Beag, Cope Street, Dungloe, Co. Donegal. The well attended meeting was informed of a good performance by the Cope in difficult trading conditions. On sales of €12.2m, earnings before tax, interest and depreciation improved by €108,000 in the year.

The Cope AGM covering the year ending 31st January 2013 was held on Monday 12th August 2013 at An Club Beag, Cope Street, Dungloe, Co. Donegal. The well attended meeting was informed of a good performance by the Cope in difficult trading conditions. On sales of €12.2m, earnings before tax, interest and depreciation improved by €108,000 in the year.

The Cope Chief Executive, Mark Sharkey, said that losses had been reduced to the lowest level in the last 7 years. The Cope was continuing to diversify and now had additional sales of €500,000 from new business ventures such as I.T., An Club Beag and the Cycle Shop in the last 12 months.

“A new e-commerce site has just been launched (www.the cope.ie) and will contribute to bringing the Society into profitability. The Cope now has global reach in a market that is worth €4 billion in Ireland alone and which allows people from all over the world to access our products, in particular our own people from West Donegal and it’s diaspora.”

“The Cope is a business that has made an outstanding contribution to the local economy since it was established in 1906. Currently, the Cope contributes over €2m a year in wages and provides more than one hundred jobs in the local community. We will continue to contribute to the economy of West Donegal in terms of jobs, wages and sourcing products from local suppliers. The Cope plays an important role in the Donegal economy and I would ask that the community supports the Cope to ensure it’s sustainability.”

Two new members were elected to serve on the Board of Directors, Padraig Monahan, Managing Director of United Health Group, Letterkenny and Anne Boyle, previously Office Manager, for Patrick Sweeney’s Solicitors, Dungloe.

The Cope Chairman, Mr Pat Dunleavy, welcomed the new Board members and said that their proven abilities were a great asset to the co-operative. “I would also emphasise the positive role the Cope plays in the community, spending in excess of €9m each year with our suppliers. Much of this spend is local and continues to support local businesses. We will continue to improve our service to customers, our profitability and the diversification of the business into new areas. We can no longer completely rely on our traditional business model.”