ANM delivers success for members despite an extraordinary year
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ANM Group, the Thainstone based farming co-operative has published its annual report for the year to December 31, 2020, posting a trading profit of £525,000.
Share capital also grew throughout the year by £357,000 to £7.2m with an overall increase in balance sheet value to £23m.
The positive results, including throughput increase of £4.2m, were delivered despite uncertainty over Brexit outcomes and the ongoing pandemic, and are being attributed to the group’s deep-rooted cooperative values along with their growing and strengthening reputation of providing options and routes to market for producers, including live online sales.
As part of an increased focus on member benefits over the last twelve months, the group has introduced a range of member-only benefits, resulting in steady and continuing growth in its membership.
Shareholders now benefit from livestock commission rates from as low as 3 per cent.
ANM’s industry-leading rates mean a total of £206,000 has been saved by members over the course of 2020.
Additionally, increased take up of the wider range of member benefits has seen the overall business grow with a 5 per cent increase in member funds invested in 2020.
ANM group chairman, Peter Watson welcomed the results, saying: “There is no doubt that ANM’s strength lies in its ability to constantly innovate and evolve, meeting challenges head on.
"This - together with traditional cooperative values - has resulted in positive results for the Group and for our members.
“To generate a trading surplus of £525,000 in such uncertain times gives us confidence to look to the future, knowing we can continue to deliver for our members in even the most challenging of circumstances.
“With a total regional economic contribution of over £100m, ANM plays a central role throughout our trading area and in the wider community, and through our various divisions services adds real value to our local communities.
Grant Rogerson, chief executive of ANM Group added: “After one of the most extraordinary years since we were established in 1872, it is with a real sense of pride that our Group is able to report on a very positive outcome for the 2020 financial year.
“All of our teams adapted brilliantly to new ways of working over the year and have continued to refine and develop the way we operate.
"Our industry leadership is clear, succeeding against a challenging backdrop because we’ve invested early, taking strategic decisions to ensure ANM had available different routes to market and the infrastructure and resources to deliver.
“We have more members investing in our co-operative than ever before, and they are being rewarded for their loyalty with an exclusive range of shareholder benefits.
“Our structure means that the surplus this year will go straight into investing in the member experience, allowing us to continue to offer sector leading benefits.
“Looking to the future, we will look to maintain and build on the positive progress made and ensure we deliver our core values. Put simply, the more who join us by investing in ANM, or by trading with us, the more we can return to members over time.
"This set of results supports the value of that strategy.”
