Anglia Farmers has made a net surplus of £186,000 which will be kept in reserves for the year ending 31 January 2012.

The farmer-owned buying group, which has 2,652 member shareholders, reported a turnover of £207.3m, up 24% on the previous year.

Net assets increased by 15%to just over £1.9m.

“Managing a large agricultural buying group within a fast changing industry is an exciting challenge,” said chief executive Clarke Willis.

“We are growing rapidly as farmers recognise that group buying delivers savings and because our existing members are doing more business with us across an increasingly broad range of products.”