ANM Group has hailed a successful year despite a drop in sales and profits.
Accounts for the north-east farmers’ co-operative, based at the Thainstone Centre, Inverurie, reveal a 7% drop in throughput to £117.221 million in 2019.
Trading profit was down to £245,000, from £498,000 the year before, and the group posted a pre-tax loss of £160,000. This is down from a pre-tax loss of £57,000 in 2018.
The group, which also runs an auction mart at Quoybrae in Caithness, reported a £309,000 rise in share capital to £6.835m.
CEO Grant Rogerson said the “very satisfactory set of trading figures” were achieved against Brexit uncertainty, continued pressure on livestock selling prices, and rising external cost pressures.
“Our annual results demonstrate that the fundamental commitment on which our co-operative is founded – delivering for our members, customers and community – has served us well despite a very challenging background,” added Mr Rogerson.
“Given today’s unprecedented trading environment, that solid foundation will continue to underpin all that we do.”
He said the group was well-placed to deal with the coronavirus pandemic. “Our full service is available for selling through the ring at Thainstone and Caithness,” he added.
“In addition, we are leading pioneers with new technology and are the first auction company in Scotland to implement live online bidding for our weekly livestock sales.
“We’re committed and working exceptionally hard to continue supporting our local producers, and early evidence is that we are maintaining good throughput.”