It’s been another fast-moving year for Scottish businesses: markets shift, costs rise, and pressures mount from every direction. Yet despite it all, there is an underlying strength in our business and across the industry.
Resilience, adaptability, and hard work continue to define our co-operative’s members, customers, staff, and the wider community, and these qualities have been tested across every sector we operate in. Every business, agricultural and otherwise, has had to rethink how it operates to keep pace with rising costs and challenging conditions. None of us is immune, government policy has not always provided the clarity or support required.
The pressures on agriculture are mirrored elsewhere. We see strikingly similar challenges in sectors such as oil and gas: high costs, increasing taxation, limited support for domestic production, and growing reliance on overseas supply. These shared challenges affect businesses across the economy and underline the importance of looking beyond our own horizons.
Thankfully, the agricultural industry, and our business more broadly, have never been defined by policy alone. Its strength lies in practical, determined, and forward-thinking people, with the same spirit that has defined our co-operative for more than 150 years. While agriculture remains a cornerstone of our business, our strength also lies in the diversity of the Group as a whole.
From specialist auctions and property to events and wider commercial activity, every division plays a vital role. Together, they enable us to adapt to changing markets while continuing to invest in people, infrastructure, and opportunity.
Strong demand across our industrial and commercial auctions has underpinned a solid year for both Thainstone Specialist Auctions (TSA) and Sweeney Kincaid, reflecting continued confidence in well run transparent marketplaces. Our Estates division has also remained busy, with sustained property market activity and a focus on valuations to support clients ahead of the inheritance tax reforms. Alongside this, the continued growth of our events offering at Thainstone further demonstrates the breadth of the Group.
As we approach January, it is hard to believe that Thainstone will mark 36 years since it first opened its doors. This milestone serves as a reminder that embracing change and investing for the long term have always been central to how we operate and how we plan for the future.
Looking ahead, my message is simple: we have reason to be confident. With the right policy environment, continued investment, and the determination of our people, there are opportunities for growth. The past year has shown that resilience and adaptability are not just words – they continue to define who we are.