ANM Group post trading profit of £649,000

ANM Group, the leading producer-owned co-operative, has published its Annual Report for the year to 31st December 2022, posting a trading surplus of £649,000 and making possible a 2.75 per cent – £200,000 – interest on share capital return to members.

ANM Group Inverurie

The Thainstone based business has reported an increase in core auction operations throughput of 6.7% to £139.7m.

The positive results, to be presented to members of the co-operative at their AGM on Tuesday, April 18, continues the progress posted last year, and cements the Group’s position as the most progressive producer-owned farming, food and finance business in Scotland.

The results have highlighted a number of major enhancements across the Group’s member benefits.

This includes trading members saving £424,000 in reduced shareholder commission rates, £128,000 saved on interest on their livestock finance service and £38,000 in enhanced interest rates paid through the members investment scheme.

The total value of members’ investment in the Group continues to grow to levels of over £7m, as members recognise the value the co-op brings.

ANM’s new Group Chairman, Mike Macaulay warmly welcomed the results.

He said: “These are a very positive set of results which consolidate everything that is positive about our co-operative values and our desire, as a Group, to succeed for our members.

“The Board is clear: delivering value for our members is fundamental in our priorities, and has been built on 150 years of solid foundations.

"We are proud to have a suite of members benefits, delivering meaningful impact for our local communities, including our livestock finance scheme supporting 224 farming enterprises across the North and North East, and financing £6m worth of livestock.

“Our focus on supporting the industry and members we represent has been key to our strategy, and these results leave us in no doubt that this strategy is bearing fruit.”

Grant Rogerson, Chief Executive of ANM Group added: “Our relentless focus on diversifying and growing our business for our co-operative community is illustrated with an impressive set of results delivering £590,000 worth of benefits to members.

“As a business, we will continue to reward our members loyalty. With their continued support, we can ensure we bring them the strongest returns, as we focus on delivering service and value.

“I’m very proud of everything my team has achieved – performing well, strengthening the business, and delivering an excellent set of results for our members.”

The full annual report can be viewed at www.anmgroup.co.uk/members/members-news/

The Group’s Annual General Meeting will be held on Tuesday 18th April at 2pm in the Thainstone Exchange, Thainstone Centre, Inverurie.

All members are welcome to attend.