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ANM Group reveals £2.5m annual losses

Tough Decisions: ANM Group Chief Exec Pat Machray and Chairman John B Macintosh say they now have a team with the right credentials to take on the challenges faced by the organisation

Tough Decisions: ANM Group Chief Exec Pat Machray and Chairman John B Macintosh say they now have a team with the right credentials to take on the challenges faced by the organisation

Inverurie based ANM Group has announced an overall trading loss of £2.5 million for the year to December 2011.

The figures, revealed in the group’s Annual Report and Accounts published this week, were described as “painful and hugely disappointing for the membership and the great tradition of the ANM Group” by Chief Executive Pat Machray. The group had made a trading profit of over £1m in 2010.

The greatest loss relates to the Group’s Meat Division, which saw losses increase to £1.79m. It includes a £1.2m loss at the Sheffield boning plant of Yorkshire Premier Meat, which the group closed in February this year. The Twechar-based Charcuterie Continental cooked meat business, which was sold earlier this month, also contributed £785,000 to the losses. The Group attributed the division’s losses to a lack of consumer confidence and increased costs.

There was better news in other areas of the Group’s business, with Aberdeen & Northern Marts increasing profits to £1.2m. The Group’s non-agricultural trading arm, Thainstone Specialist Auctions, also made a ‘substantial’ contribution, assisted in part by sales resulting from the administration of the Les Taylor Group.

Describing ANM Group as a ‘strong organisation’, Mr Machray insisted that he was positive about the Group’s future, and that while there were ‘no quick fixes’, the Group would be looking for ‘efficiency and margin’ as it sought to move back into profit.

 

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