Closures mean a net loss for ANM
MEAT and marts group ANM made a trading profit of £250,000 in 1998, down 58% on the year. But costs of £658,000 associated with the closure of two abattoir businesses resulted in a net loss of £432,000 compared with a profit of £448,000 in 1997.
Chief executive, Brian Pack, said the costs of closing down Thistle Meat and Scotch Premiers Edinburgh plant would be more than covered when the Edinburgh site was sold to developers.
Despite the closures, which more than halved the groups meat turnover, Scotch Premier made a trading profit of £234,000 which was down only £44,000 on the year. The other meat business, Yorkshire Premier meat, had a pre-tax profit of almost £200,000 on turnover of £24m.
The core business, Aberdeen and Northern Marts, suffered from falling livestock prices. The auction business had a trading profit of £107,000 – down 65% on the year.
The group, a farmer owned co-operative, is to pay a dividend of 8%, the maximum allowed. *