Framlingham: Farmers’ co-op AtlasFram celebrates strong set of results
- Credit: Archant
An East Anglia-based farmers’ co-operative has seen its turnover soar by 12% in what it described as “a very successful year”.
AtlasFram Group, based in Framlingham, reported a strong set of results for the financial year to June 30, 2013 at its annual general meeting on Thursday.
Turnover was almost £190million, 12.3% higher than the previous year, while a £138,301 operating surplus helped increase the group’s financial reserves to a record £2,658,850.
The group, which purchases farm inputs and markets combinable crops for 1250 shareholder-members who collectively farm more than 350,000 hectares, said its success was down to its forward-thinking approach.
“We operate transparently and deliver all financial benefits back to members,” said chairman Serena Greenwell. “Our unique area-based funding scheme, which provides a known cost of membership and rewards commitment, has helped membership to grow. During the year 35 farm businesses representing over 10,000 hectares joined us, while existing members increased their commitment.”
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The organisation’s unique crop marketing partnership with ADM Direct had produced “excellent” results, she said.
“The tonnage marketed by our members increased to 172,000 tonnes, a six-year high, our pool tonnage increased by 68% to its highest in 10 years and commitment for 2013/2014 is substantially higher,” she said.
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Sales of crop protection products reached £28.5m, £27.9m of fertiliser was ordered, electricity sales increased by 8.8% to £7.4m and seed sales were £6.8m, up 23%, she said. The Livestock Department’s turnover increased by £5.25m, and the volume of feed purchased went up by almost 20% to a record 99,000 tonnes.
“The recent move to Station Road, Framlingham has been very positive. Our new offices symbolise the forward momentum which has built up within AtlasFram during the last three years, and provide a professional working environment which has energised the team and given us space to grow,” said chief executive Richard Anscombe.