North-east farmers’ co-operative ANM Group has hailed a milestone achievement with a record level of £5million of share capital now invested in the group.
The Inverurie-based group says it has welcomed nearly 50 new members to the co-op since its annual general meeting in April, and received around £400,000 of investment from both new and existing members since then.
The group’s executive directors – John Gregor and Grant Rogerson – say the new membership and record level of share capital are a result of the benefits of co-operative membership.
Mr Gregor said: “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.”
Mr Rogerson said the diversity of the group was also a key factor for those opting to join and invest share capital.
He said the group’s plant and machinery sales, held eight times a year, were growing in popularity and bringing in around £14.5million in turnover for the group every year.
“These live and online auctions consistently attract around 3,000 lots, and are among the largest plant and machinery sales of their kind in the country with bidders travelling from across the UK,” said Mr Rogerson.
“Given the focus on cost efficiency, and the likelihood of increasing demand for second hand equipment, these sales will be particularly appealing because of the reassurance of the competitive price discovery mechanism, unique to the auc