Carr's Group plc
("Carr's", the "Company", or the
"Group")
Carr's (CARR.L), the Agriculture and
Engineering Group, today announced a trading update for the year
ended 31 August 2024.
Financial
Highlights
Trading in the year was broadly in line with
Board expectations.
The year closed with net cash of £4.5m (2023:
£4.2m).
Strategic
highlights
Activity to explore options to maximise
shareholder value for the Group's Engineering Division is
proceeding satisfactorily and in line with Board expectation and a
further announcement will be made in due course.
Integration of the businesses comprising the
Agriculture Division under a single management team is complete and
an update on a focussed Agriculture strategy will also be made in
due course.
Central cost reductions and non-core property
and other asset realisations are progressing as planned. The Group
is also progressing exploration of removal of risk of future
pension scheme volatility.
The audited results for the year ended 31
August 2024 are expected to be announced in mid-December
2024.
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Enquiries:
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Carr's Group
plc
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+44 (0) 1228
554 600
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David White,
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Chief Executive Officer
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Gavin Manson,
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Chief Financial Officer
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FTI
Consulting
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+44 (0) 203
727 1340
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Richard Mountain/Ariadna
Peretz
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About Carr's
Group plc:
Carr's is an international leader in
manufacturing value added products and solutions, with market
leading brands and robust market positions in Agriculture and
Engineering, supplying customers around the world. Carr's operates
a business model that empowers operating subsidiaries enabling them
to be competitive, agile, and effective in their individual markets
whilst setting overall standards and goals.
The Agriculture division manufactures and
supplies feed blocks, minerals and boluses containing trace
elements and minerals for livestock.
The Engineering division manufactures vessels,
precision components and remote handling systems, and provides
specialist engineering services, for the nuclear, defence and oil
& gas industries.