ANM Group posts a positive trading profit as auction throughput rises
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ANM Group, the leading farming co-operative, which is headquartered at Thainstone, has published its Annual Report for the year to December 31 2021, posting a trading profit of £659,000.
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, set to be presented to members of the co-operative at their AGM this coming Tuesday April 19, 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 over £7m.
The full annual report can be viewed here.
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, saying: “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.
“To generate a trading surplus of £659,000 against a very uncertain backdrop gives the Group confidence to look to the future, knowing we can continue to deliver for our members in even the most challenging of circumstances.
“In this, our 150th anniversary year, I am delighted to be handing on the baton with the Group in such a promising position - as a friend, member and customer of the business, I will look forward to further progress in the future.”
Chief Executive of ANM Group Grant Rogerson 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.
“Our business is different from others.
"Our shareholders are our members, our customers across the Group, and their interests come first.
"That’s why we invest in them, with access to an impressive range of member benefits, and commission rates that have saved them £370,000 in the last twelve months alone.
“Our co-operative structure means that the trading surplus this year will go straight into investing in the business, yielding returns in the present, but also preparing us for the future.
“For over 150 years, ANM has delivered for our members and customers across our markets.
"These results are a ringing endorsement of that approach with the business heading in the right direction, allowing us to look ahead with confidence with an eye on the future for further exciting opportunities to come.”
