Article : Mica AGM Sees Record Rebates Returned To Membership
Date: Monday 18th May, 2015
News Release:
The 2015 Mica DIY Ltd AGM took place on March 22nd in the Oak Room, Royal York Hotel, York.
Mica CEO Steve Ball presented the accounts for 2014 to the large group of assembled members. The figures for 2014 showed the continued progress and growth of the business, including record sales through the co-operative. The group has continued its run of returning a modest profit in each full financial year since inception.
As a result of the 2014 figures, Steve announced that the Mica Board - which as a co-operative is made up exclusively of Mica retailers - had approved the biggest ever Mica rebate cheques to be handed back to retailer members, with an additional bonus; a match Marketing voucher to go alongside the cheques, which Steve explained:
“The Mica members of the Board felt that not only should we be handing profits back to the membership to in turn pass on to their customers in the form of great pricing, but also encouraging them to boost their marketing presence locally to spread the word about their store in their local area. Therefore equal to their rebate each member received a voucher to spend during the year on any additional Marketing they wish us to do”.
Members were delighted with these biggest ever rebates, enabling them to continue to compete with the larger retailer groups through competitive pricing to their customers. The news demonstrates the strength and success of Mica stores and their customer relationships, which are impossible to replicate in multiple chain retailers.
Steve on behalf of the members of the Board thanked all the members for their support of their group over the last 12 months, and then led a forum on future development options.
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