Agribition posts strong financial results, elects executive
REGINA — Canadian Western Agribition posted a profit of nearly $75,000 on operations in 2024, organizers said at the show’s annual general meeting earlier this month.
Its financial statements show a loss of more than $13,600, mainly due to amortization.
The financial picture for the organization comes amid news of an unofficial record 145,663 attendees and a sold-out trade show but also with expenses at an all-time high.
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Fuel surcharges, high inflation and equipment costs all contributed to those, said the annual report.
President Michael Latimer, re-elected at the meeting, said about 220 international buyers from 20 countries attended.
“Canada is a trading nation with the resources and capacity to provide products to markets around the world, including, but not limited to, livestock genetics, machinery, minerals, grains, lentils and many other products,” he said.
“This has never been more important than it is now as we face a changing global trade environment.”
In 2024, the Regina show signed two agreements with counterparts in Mexico and Australia to cross-promote their events and facilitate trade.
Chief executive officer Shaun Kindopp told the meeting the show is acting on a survey of livestock exhibitors conducted at the event and is running ideas by a new focus group.
He committed to working toward better financial outcomes but also acknowledged rising costs.
“Fairs (Festivals) and Major Events Canada has said that it now costs 30 to 40 per cent more to put on a comparable sized event than it did in 2019,” he said.
Meanwhile, he said Agribition now has an app, which can drive revenue off something that used to be a pure expense and has a plan to address some of the “pain points.”
Five people were elected or re-elected to the board at the meeting: Kelly Howe from Moose Jaw, Courtney MacDougall from Regina, Grant McLellan from Regina, Ian McNaughton from Gravenhurst, Ont., and Karl Sauter from Wawota, Sask.
The executive includes Latimer, McLellan as vice-president and directors MacDougall, Sauter and Howe. Kim Hextall is past-president.
Agribition 2025 runs Nov. 24-29.
Contact karen.briere@producer.com
Source: producer.com