Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

ANM Group back in profit despite Covid-19 challenges

ANM Group enjoyed an increase in throughput and pre-tax profits in 2020.
ANM Group enjoyed an increase in throughput and pre-tax profits in 2020.

ANM Group bounced back into the black last year despite the challenges posed by the Covid-19 crisis and Brexit uncertainty.

The north-east farmers’ co-operative, which runs auction marts at Thainstone near Inverurie and Quoybrae in Caithness, posted a pre-tax profit of £136,000 for the year to December 31, 2020. This follows a pre-tax loss of £160,000 the year before.

The group also reported a 3.5% increase in throughput to £121.386 million, from £117.221m previously, and its trading profit more than doubled to £525,000 from £245,000 in 2019.

“After one of the most extraordinary years since we were established in 1872, it is with a real sense of pride that our group is able to report on a very positive outcome for the 2020 financial year,” said ANM Group chief executive, Grant Rogerson.

“All of our teams adapted brilliantly to new ways of working over the year and have continued to refine and develop the way we operate.”

The group runs auction marts at Thainstone and Quoybrae.

He said the group’s livestock division – Aberdeen and Northern Marts – was required to adapt and evolve to Covid-19 regulations, but its position was strong.

Previous figures from the division reveal an increase in the number of cattle and sheep traded through its rings last year. The company sold 12% more sheep – equating to 30,550 more animals – and 2% more cattle in 2020, than were traded in 2019.

Mr Rogerson said Covid-19 restrictions placed an “unbelievable strain” on the group’s hospitality business, however its specialist auctioneering division – Thainstone Specialist Auctions – adapted well to the challenges and was able to provide services throughout lockdown.

He said the group’s estates division – Aberdeen & Northern Estates – witnessed a “very active property market” once the first lockdown ended, and the group was continuing to work hard to bring new value to its business park.

The number of cattle sold by the group was up 2% in 2020.

Mr Rogerson said the co-op’s members had invested more than ever before in the business and share capital increased by £357,000 to £7.2m in the year.

“Our structure means that the surplus this year will go straight into investing in the member experience, allowing us to continue to offer leading benefits,” added Mr Rogerson.

“Looking to the future, we will look to maintain and build on the positive progress made and ensure we deliver our core values. Put simply, the more who join us by investing in ANM, or trading with us, the more we can return to members over time. This set of results supports the value of that strategy.”

ANM Group chairman Peter Watson, who farms near Banchory, hailed the success of the co-op last year and said: “To generate a trading surplus of £525,000 in such uncertain times gives us confidence to look to the future, knowing we can continue to deliver for our members in even the most challenging of circumstances.”

Already a subscriber? Sign in

[[title]]

[[text]]