North-east farmers’ co-operative ANM Group has hailed a record amount of share capital investment by members.
The group’s chief executive, Grant Rogerson, said the £6million investment by members in the co-op was a milestone for ANM.
“As a co-operative business, we are absolutely delighted to reach this record milestone and grateful for the support received from our members and customers, who recognise the strength and diversity of the group,” said Mr Rogerson. “The group’s strong financial position has been further secured through the clearly defined strategy developed by the board and the executive team.
“Our contribution through our member and customer benefits, delivering honesty, professionalism and integrity, is fundamental and emphasises the advantages of working with a co-operative society, as we continue to deliver real and tangible value for individuals and businesses alike.”
He said the group, which has a throughput of £125million and employs more than 200 staff, had delivered membership benefits worth almost £500,000 last year through share dividends, a trading bonus, commission cap savings, and enhanced interest rates for the group’s members loan scheme.
ANM also made more than £7million available to industry through its Financial Conduct Authority (FCA) approved livestock finance scheme last year, added Mr Rogerson.
Group chairman Pete Watson said: “Members’ confidence in the business is reflected in this record level of share capital investment which increased by over £500,000 this year. We look forward to continue supporting our members and customers, adapting to suit their needs and representing them across the industry at all levels.”
