Wynnstay Group Plc announce interim results for six months to 30th April 2007

Key Points

• Encouraging interim results - demonstrate the advantages of the Group’s balanced spread of activities

• Full contribution in the period from Glasson Group, acquired in August 2006, which performed excellently

• Turnover increased by 52.6% to £79.90m (2006: £52.38m)

• Pre-tax profit rose by 39.0% to £1.96m (2006: £1.41m)

• Basic earnings per share up 15.5% to 12.43p (2006: 10.76p)

• Net assets increased by 9.7% to £26.83m (2006: £24.45m)

• Interim dividend of 1.875p up 7.1% (2006: 1.75p)

• Key trends in period:

• First dedicated pet supplies store - “Just for Pets” - opened in Telford in June

• Actively seeking further consolidation opportunities - currently in negotiations with agricultural distribution companies

• Positive outlook for full year

Chairman, John Davies, commented,

“Trading results for the first six months of the financial year are encouraging and I am pleased to report that earnings have improved in line with our expectations. The balanced spread of our activities continues to ensure we are able to perform robustly in challenging market conditions.

We believe that our twin track strategy of acting as a consolidator in the agricultural sector while expanding our higher margin retail activities will continue to bring ongoing benefits. Our position as a low cost, high quality supplier considerably strengthens this strategic approach. We remain positive about the outcome for the current financial year.”

Download the full results announcement statement.
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