StockMarketWire.com - Wynnstay Group's H1 pretax profit fell 10% to £4.70m, from £5.21m a year ago. Revenue rose 3% to £222.49m, from £216.09m, including a £9.0m contribution from Carmarthen & Pumsaint Farmers business.

Net debt was significantly reduced at £10.86m, down 29%.

CEO Ken Greetham, commented:

"While pre-tax profit is 10% behind last year's record level, this year's results were achieved in trading conditions which differed markedly to the prior year and continue to demonstrate the strength of Wynnstay's broad spread of activities," he said.

"The variation between the two first halves largely reflected the weather conditions, which in both periods was atypical for the season. The unusually mild weather in the first half gave rise to a different demand pattern across our products and market segments against the same period last year," he said.

"The unit margin picture across our agricultural supplies also varied against last year, with lower comparisons seen in raw materials, manufactured fertiliser and wholesale seed. Nonetheless, Wynnstay's performance within agricultural products was robust and encouraging given the market conditions.

"Wynnstay remains well-placed for continued development and its broad base of activities provides firm foundations for growth. Current trading is in line with management budgets and, with a good harvest expected, the Board remains confident of prospects for the remainder of the financial year and beyond."




At 9:06am: [LON:WYN] Wynnstay Group PLC share price was 0p at 605p



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