Wynnstay Group PLC Trading Update (1345I)
22 November 2018 - 6:00PM
UK Regulatory
TIDMWYN
RNS Number : 1345I
Wynnstay Group PLC
22 November 2018
22 November 2018
AIM: WYN
WYNNSTAY GROUP PLC
("Wynnstay" or "the Group")
TRADING UPDATE
FOR THE YEAR ENDED 31 OCTOBER 2018
The Board of Wynnstay, the agricultural supplies group, is
pleased to provide the following update on trading for the
financial year ended 31 October 2018.
Trading across both the Agriculture and Specialist Retail
Divisions has continued strongly in the second half of the
financial year, with farmer confidence and spending patterns
continuing to recover as output prices have strengthened. As a
result, the Board now expects to report profit before tax and
earnings per share for the financial year ahead of current market
forecasts.
Strong feed sales, both direct-to-farm and through Wynnstay's
agricultural retail stores have been a key driver of this
better-than-expected performance. Feed volumes and margins
benefited from both the improvement in underlying market demand and
the extended warm dry summer, which limited forage availability.
Fertiliser volumes, which have been expanded through acquisitions
within the Glasson business, were also boosted by weather
conditions in the final quarter of the financial year, and seed
sales were also strong over this period. The integration and
turnaround of the stores acquired from the administrators of
Countrywide Farmers is proceeding to plan and they are anticipated
to make a positive contribution to the Group's results in 2019.
The Board believes that the general agricultural and commodity
outlook in the UK remains positive, and that the Group is well
placed to take advantage of the opportunities that are expected to
present themselves.
The Group expects to announce its results for the year ended 31
October 2018 towards the end of January 2019.
Enquiries:
Wynnstay Group plc Gareth Davies, Chief T: 1691 827
Executive 142
Paul Roberts, Finance
Director
KTZ Communications Katie Tzouliadis / Emma T: 020 3178
Pearson 6378
Shore Capital (Nomad Stephane Auton / Patrick T: 020 7408
and Broker) Castle 4090
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END
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