Wynnstay Group Plc announce interim results for six months to 30th April 2009

Key Points

• Robust results, despite volatile agricultural commodity prices, reflect breadth of agricultural activities

• Revenues increased to £117.70m (2008: £116.46m)
  - agricultural supplies businesses: revenues of £92.00m and operating profits of £2.15m
  - specialist retail businesses: revenues of £25.64m and operating profits of £1.27m

• Operating profit increased to £3.47m (2008: £3.33m)

• Profit before tax increased to £3.16m (2008: £2.96m)

• Earnings per share of 16.31p (2008: 17.71p)

• Net assets rose by 20% to £38.2m (2008: £31.8m)

• Interim dividend of 2.2p per share, representing a 10% rise (2008: 2.0p)

• Lower like-for-like feed and fertiliser volumes but seed and specialist trading activities performed very strongly

• Country Stores showed like-for-like growth over last year

• Continuing expansion of Pet Product Superstores – like for like growth and new store in Derby with further store opened after the period end, in Northampton

• Board confident of pleasing outcome for the year

Ken Greetham, Chief Executive, commented,

“I am pleased with the robust performance of the Group against a background of volatile agricultural commodity prices. This reflects the breadth of Wynnstay’s agricultural supplies businesses, which spans the whole marketplace from livestock feeds to seeds and fertiliser.

Our specialist retailing businesses also continue to perform well, with our Country Stores and Pet Product Superstores showing like-for-like growth.

We anticipate a good outcome for the year and believe that the business is well placed for long term sustainable growth as we pursue our strategy to act as an agricultural consolidator while developing our retailing activities.”

Download the full results announcement statement.
Adobe Acrobat is required to view this file available free of charge from www.adobe.co.uk


▲back to top▲