East Anglia: Deal with Waitrose boosts Anglia Farmers revenues
- Credit: Archant © 2009
East Anglia-based Anglia Farmers said a deal struck with Waitrose had played a part in boosting revenues by 11% this year.
Clarke Willis, group chief executive, said £1m had been added to the business off the back of the Waitrose relationship, which encourages livestock farmers within the supermarket’s supply chain to take up an AF membership.
The announcement follows the publication of the organisation’s accounts, which revealed an increase in turnover from £208m to £231m – with a forecast increase to £245m in 2013/14. And as revenues grew, so did its membership, with AF shareholders members increasing to 2,826.
Meanwhile, in its second year of trading, AF Affinity, which offers products to business purchasers, private individuals and through employee incentive schemes, recorded a turnover of £2.56m.
And elsewhere within the group, AF Biomass recorded revenues of £2.4m, while AF Finance, the peer-to-peer lending scheme, lent more than £1m to members – returning an interest of 5.05% to depositors.
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Mr Willis said: “Over the last 10 years we have gone from £40m to £230m. Some of this business growth is driven by inflation. But there has also been an increase in membership, and we have moved from a regional business to a national business – we have also developed some strong links with Waitrose.
“The Waitrose farming partnership was launched last summer... Since those members have come on board it has added an additional £1m to our turnover, and that will continue to grow as we take on more of the Waitrose’s supply chain.”
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Kit Papworth, AF chairman, said: “These figures reflect another excellent year for AF. It is great to see that despite on-going difficult trading conditions, the group has retained its focus and continued to grow.”