That represented modest growth of 3% over that period which came after record years for both Farmlands and CRT in 2012.
Widespread drought conditions for much of the year and generally more subdued market conditions had impacted growth, Farmlands chairman Lachie Johnstone said in a statement yesterday.
CRT and Farmlands officially merged on March 1, creating a nationwide farm supplies co-operative with 54,000 members, more than 1000 staff, 47 stores in the North Island and 31 in the South Island.
Due to the merger process, a June 30 balance date was adopted and the results reported reflected 15 months' trading of CRT, and four months' of Farmlands.
Those accounts reported turnover of $1.9 billion for that period, compared with $1.2 billion in the previous 12 months for the remaining legal entity.
The performance of the co-operative over the period of transition up to July 1 had been measured on a rolling 12-month period of the two organisations, Mr Johnstone said.
Operating profits before tax and merger costs had remained on par with the previous year's record results. Merger costs impacted on profit but were in line with the merger budget.
The timing of some expenditure had been accelerated to meet operational requirements, such as rebranding the business.
With $39.7 million distributed to shareholders in a bonus issue and bonus rebate payment at the time of merging, no further distribution would be made on the June 30 result.
Chief executive Brent Esler was confident the merger expectation of $38 million in net benefits to shareholders over three years would be ''comfortably exceeded''.
''We have made good progress in removing duplicated costs and in aligning suppliers and our terms of trade. We are exceeding our original merger projections in virtually all areas,'' he said.
Last month, the co-operative completed its purchase of the NRM stock food business from Viterra. The acquisition included land and buildings, two feed blending plants and a North Island distribution centre as well as the brand and intellectual property associated with the business.
Farmlands' first quarter results for the 2014 year were encouraging with an 11% lift in sales turnover to $542 million reported for the period.
Dairy payout improvements, recovery from the drought conditions and generally improved market confidence appeared to be the main drivers of growth, Mr Esler said.
