Farmer-owned agricultural buying group Anglia Farmers has reported a 33% increase in turnover in the past year, with further growth predicted.

The not-for-profit group said turnover rose to £95.75m for the year to 31 January. Figures for the first four months of the new year put turnover at £47.4m, a 54% rise on the same period last year. Net surplus was up 70% to £140,295.

The group also predicted that turnover would top £140m by the year end. "We are continuing to grow and we are maintaining our high service levels to members at a time when the agricultural supply industry is generating additional challenges with the security of supply and inflation in key inputs," said Anglia chief executive, Clarke Willis.

The company is the UK's largest agricultural purchasing group. It acts as the central purchasing department for more than 1,500 farms, estates and businesses, and buys agrochemicals, feed, and fertiliser for its members.