ANM Group returns trading profit of £659,000

ANM Group, the leading farming co-operative headquartered at Thainstone in Inverurie, has published its Annual Report for the year to December 31 2021, posting a trading profit of £659,000.

By Dawn Renton
Wednesday, 20th April 2022, 6:53 am
Updated Wednesday, 20th April 2022, 6:53 am
ANM Group Chairman, Peter Watson who is set to stand down after nine years on the Board and five in the chair.
ANM Group Chairman, Peter Watson who is set to stand down after nine years on the Board and five in the chair.

There was an overall increase in balance sheet value by £3.5m to £26.7m, and auction operations posted a further rise of 10.3 per cent in throughput, to almost £131m.

The positive results, which were set to be presented to members of the co-operative at their AGM this week, are seen as cementing the progress posted last year, and the Group’s position as the most progressive producer-owned farming, food and finance businesses in Scotland and ranked in the Top 25 of all UK member-owned co-operatives.

The results are being posted after a major increase in member benefits, including:

Trading members saving £370,000 in reduced shareholder commission rates Interest on share capital payment to shareholders of 1.5 per cent £163,000 savings made by members from other members benefits schemes, such as enhanced interest rates on members loans scheme

The total value of members’ investment in the Group has been maintained at its record level of more than £7m.

ANM Group Chairman, Peter Watson, who is set to stand down at the AGM after nine years on the Board and five in the chair, warmly welcomed the results.

He said: “These results are a welcome endorsement of our co-operative values, where the benefits of our trading are shared with our member shareholders, returning real and significant value for their loyalty to the Group.

"Our first priority is always to work in their best interests, and this set of annual results is further confirmation of our position as market leaders.

Grant Rogerson, Chief Executive of ANM Group added: “This outcome for 2021 is built on three particular elements which I would want to highlight: our continuing and relentless innovation to deliver for our members and customers; the continuing focus on the Group’s role in the supply chain supporting the economies we serve and the exceptional people in place across the ANM business.