United Kingdom-Farming Giant brings in a profit.

ANM GROUP MADE CLOSE TO A MILLION POUNDS PROFIT.

The Group’s strong profit showing for last year was also strengthened with an increase in stakeholders’ share capital of £411,000 to £5.536m.

ANM chief executive Brian Pack said: "The hard earned reserves we have assiduously built up over the years ensure the Group is fit to face the bruising financial conditions of the moment and also that we have funds to look to future opportunities which can only increase."

He added: "The Group is impacted in various different ways, including customers with credit issues, consumers changing their buying habits to cheaper cuts of meat, the property development market stalled for the moment and many of the population saving rather than spending."

The Group’s parent society, which includes Aberdeen & Northern Marts and Thainstone Specialist Auctions, also recorded a substantial profit. The Marts division saw a throughput increase and higher livestock prices were also said to have contributed.

Aberdeen & Northern (Estates) however, saw profits fall with a reduction in throughput while Scotch Premier Meat felt the negative effects of the increase in cattle prices as it struggled to make margin and pass on the increase in costs to consumers.

Yorkshire Premier Meat was also affected by the increase in its raw material prices but by the autumn the market had stabilised and it turned in a profit.