Below is the Primac 1975 Annual report from Barry Dixon’s collection. This is a historically significant document as it is the first annual report after the amalgamation of the Primaries and Mactaggarts Primary Producers Cooperatives in the wake of the 1974 cattle crash.
Note at this point the new entity is not Primac but in fact, Primaries Mactaggarts Co-operative association Ltd.
On the 1st May 1975 the Queensland Primary Producers Co-operative Association LTD and Mactaggarts Primary Producers Co-operative Association Limited, amalgamated to form “Primaries Mactaggarts Co-operative Association Limited”From the Primac 1975 annual report.
Barry has digitized the Primac 1975 Annual Report and it is published below for archiving it on the Gurus website.
The fall in combined turnover from $169.4 million (1974) to $82 million (1975) is 51.6% and reliably reflects the market deterioration in the wool market (saved only by the Wool Floor Price Scheme) and the collapse of the cattle market.
1974 combined Primaries & Mactaggarts Profit $908,886
1975 Combined Primaries & Mactaggarts Loss $2,176,091
“There were 54 Primac Branches listed in the report after the merger.”
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