THE release of CBH Group's 2013 annual report last week has shown the co-operative posted a $131.7 million net profit.
Maintaining the title as Australia's largest exporter of grain, CBH shipped 11.5mt and reported accumulated sales of more than $2.93 billion in 2013.
The grains giant said it had achieved significant new customer growth across Indonesia, Philippines, China and the Middle East.
It also established and concluded direct sales into Iraq wheat tenders and was the first exporter of Australian canola to China since the market re-opened.
CBH chief executive officer Dr Andy Crane said the co-op had been able to deliver real value for its growers as a result of the bumper 2012-2013 harvests and subsequent profits.
"CBH has now kept fees flat in all but one of the past four years, something that is the envy of growers elsewhere in Australia," Dr Crane said.
The co-op said it had rebated growers $1.00 per tonne to offset storage and handling charges and had introduced operations rebate of $0.85/t to offset 2013-14 charges.
Another highlight of the year was a seven per cent reduction in rail freight rates.
According to CBH this was attributable to $155.2 million investment in capital expenditure and maintenance of the rail network.
"The CBH Group's investment into locomotives and wagons as well as the new contract for above-rail operations with Watco WA Rail started to pay dividends with productivity efficiencies and operational savings able to be passed onto growers," the report stated.
It's investment in Interflour, one of the largest flour milling operations in South East Asia, proved to be a profitable move after it posted a $16 million profit after tax, with $8 million attributable to CBH.
"Since taking a 50 per cent share in 2004, the Interflour investment has become a profitable business," Dr Crane said.
"Returns from the Interflour mills will be rebated to growers through an investment rebate lowering storage and handling charges."
The productive year has also safeguarded the salaries of CBH top executives, which were outlined in the latest annual report for the very first time.
Dr Crane received $1.23 million in 2013, including a base salary of $789,000 and performance bonuses of $375,000.
CBH chairman Neil Wandel was paid $180,000, while deputy chairman Vern Dempster received $104,000 and former deputy chairman Clancy Michael $106,000.