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Co-operative remaining optimistic despite fall in turnover

Despite a significant drop in turnover this year, Anglia Farmers remain optimistic for the future.
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Anglia Farmers (AF) has seen a drop of £16.6million in turnover in the last year due to falling global commodity prices.

 

Despite this fall, the group is still optimistic for the future of the business and sector.

 

Current turnover for AF was £230.9m in 2016, whereas 12 months ago the figure stood higher at £247.5m.

 

Comparisons

 

Clarke Willis, AF chief executive, said: “The fluctuation in commodity prices of energy (electricity and fuel), fertiliser, cereal seed and animal feeds make year on year turnover comparisons difficult.

 

“But there has been a continued growth in volumes during the year as prices of key commodities fell.”

 

Mr Willis emphasised the importance of risk management when it came to input costs. These risks, he claimed, could be reduced by the group’s ability to fix fuel prices for the next 24 months and the increase in options of fertiliser pools.

 

AF membership comprises of 3,500 shareholders, with Mr Willis claiming membership was growing.

 

AF’s AGM will be held on June 23 at Honingham Thorpe, Colton, Norwich.

 

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