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ANM reaches record share capital investment

Share capital investment has reached a record £5 million, the co-operative has announced


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ANM Group has reached a record £5 million share capital investment following a £400,000 increase since April.

 

The Thainstone-based group’s executive directors have said the increased investment has come as a result of challenging farmer trading conditions.

 

Executive director John Gregor said: "The group provides an element of stability in testing times. One of our central functions is to represent and support members and their interests at stakeholder level with the Scottish Government: ensuring the industry is fit for the future.

 

"This year has seen significant challenges for many of our customers and members."

 

Mr Gregor said the record investment would allow the group to build on benefits such as members’ loan schemes, livestock finance, commission cap savings and share dividends.

 

He added: “The co-operative is particularly proud to offer a new entrants’ scheme, which has attracted 18 participants. It was set up in 2013 to provide financial and advisory support to those starting-out in the agricultural industry and, to date, has loaned £400,000.”

 

The group has attracted about 50 new members since its annual general meeting in April. Its plant and machinery sales represent about £14.5m annually.


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