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Eagle House
Llansantffraid
Powys
SY22 6AQ
T: 01691 828512
F: 01691 828690
www.wynnstay.co.uk
Media Release
17th June 2009
WYNNSTAY GROUP PLC
(Wynnstay or the Group)
Interim Results
for the six months to 30 April 2009
Based in Wales, Wynnstay manufactures and supplies agricultural products and services for farmers. In addition, it operates two specialist retail chains, comprising Country Stores (with an offering tailored to the needs of farmers and country dwellers) and Pet Product Superstores (trading as Just for Pets).
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 Wynnstays 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.
-Ends-
For further information, please contact:
Today: Thereafter:
Ken Greetham, Chief Executive Paul Roberts, Finance Director
Tel: 020 7448 1000 Tel: 01691 828512
Issued by:
Paul Jennings, ABC Limited
Office: 01694 731914
Mobile: 07515 260331
This news release can be downloaded directly from the ABC Press Centre at www.abccomms.co.uk
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