Turnover up 23% for agricultural buying group

Announcing results for the year ending 31st January 2007, Anglia Farmers reports turnover was £72.2 million, up by 23% on the previous year.

The net surplus for the year, to be retained in reserves, was just over £82,400 (up 64%) and net assets stood at just over £1 million (up 10%).

Commenting on the results, George Bell, the chairman of Anglia Farmers, said:

"The year-on-year growth reflects our solid performance which has led us to become the UK's largest agricultural buying group. As in previous years the increases are due to both current and new members buying more farm inputs and ancillary items through the group. We now have 1,000 full members farming 350,000 hectares and 500 associate members."

Negotiating prices for other agricultural buying groups boosted Anglia Farmers' buying power to more than £100 million in 2006.

Anglia Farmers expects further growth will boost its own turnover to £85 million during the current year.

The group's chief executive, Clarke Willis, said:

"We are driving the input supply chain and transforming the way our farmer members do their purchasing. Apart from securing the best prices, the service we provide considerably reduces office hours for farmers. Our aims are to deliver excellence in agricultural purchasing and to perform professionally for the benefit of our members. We believe we are achieving these aims."