Announcing results for the year ending 31 January 2012, agricultural buying group Anglia Farmers Limited reports turnover was £207.3 million, up 24% on the previous year.  The net surplus, to be retained in reserves, was £186,000.

Net assets increased to just over £1.9 million, up 15% on the previous year (up from £1.6 million) and shareholder members increased during the year to 2,652.

Kit Papworth, chairman of Anglia Farmers said: “These figures represent another excellent set of results for Anglia Farmers and reinforce its position as the foremost purchasing cooperative in the UK.

“We continue to grow volumes in all departments whilst delivering outstanding value and service to members,” he added.

The Anglia Farmers Group comprises Anglia Farmers Limited (the society) and three wholly owned subsidiaries; AF Affinity Limited, AF Biomass Limited and a new company launched in April, AF Finance Limited.

The group’s chief executive, Clarke Willis, said: “Unlike most business scenarios that are driven by bottom line, a member-owned, levy based buying group delivers savings directly to members.  Our business model means increasing volumes to negotiate better prices. 

“Managing a large agricultural buying group within a fast changing industry is an exciting challenge.  We are growing rapidly as farmers recognise that group buying delivers savings and because our existing members are doing more business with us across an increasingly broad range of products,” he added.