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Leaner business boosts AF Group profits to £2.1 million

Profit increased by 76 per cent to £2.10 million.

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Leaner business boosts AF Group profits to £2.1 million

Practising what they preached on becoming a leaner business has helped AF Group boost its profits as it talks to its members about making their own business ‘fit and lean’ for the future.

 

Profits were up 76 per cent this year at £2.1 million, with rebates of £1.1m to members – up 80 per cent on last year.

 

Chief executive Jon Duffy hailed a set of ‘strong results’ on the back of a clear strategy, focusing on its staff, suppliers and making sure the membership ‘get what they want’.

 

“We treat our members as customers," he said. “And as customers unless you give them the right service and products they have the option to go elsewhere.


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“We also look at them as the people who own the business."

 

He said members had benefitted in a number of ways as they looked to simplify their businesses and increased buying power.

 

“We have reinvested £1m back into the business. And we have given back £1m in rebates," he added.

 

On Brexit, Mr Duffy said the business was working to take as much of the uncertainty away from its members as possible.

 

“We do not know when we are going to leave and the terms we cannot plan fully until we know those details."

 

Preparation

But Mr Duffy believed it was in a position to be ‘fairly fleet of foot’.

 

“We can make sure we have all the goods and services in place,” he said.

However there could be some short-term logistical issues.

 

Mr Duffy added farmers were ‘remarkably resilient’ and most of the members were just getting on with running their businesses.

 

“Yes, they are making smaller changes, some are making larger," he said.

 

"Actually, over the longer term for agriculture in the UK, there is a good level of optimism.”

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