Scottish farming co-operative ANM Group’s pre-tax profit more than trebled to £437,000 during 2021.
Turnover at the group increased by £755,000 to total £7.984m, while trading profit was £659,000 for the year ending 31 December 2021, up from £525,000 in 2020.
Auction throughputs were up on the previous year across all its sites, helped in part by its use of digital selling platforms allowing for bids to be taken online.
Covid-19 restrictions continued to pose challenges to business operations, however the firm was able to remain profitable.
ANM Group has more than 5,000 members and about 1,225 trading members.
Chief executive Grant Rogerson considers innovation, focus on the supply chain, and people as the three key elements contributing to the group’s 2021 results.
Mr Rogerson said: “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 past 12 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.”
The co-operative has announced significant changes to its board with the appointments of a new chairman, vice-chairman and deputy vice-chairman.
Mike Macaulay is due to replace Pete Watson as chairman with immediate effect. Stuart Stephen and Dave Green assume the roles of vice-chairman, and deputy vice-chairman respectively.