StockMarketWire.com - Wynnstay has booked a FY pretax profit of GBP8.3m, from a year-ago 8.5m. Revenue was GBP377.4m, from GBP413.6m. It proposed a final dividend of 7.4p a share, taking the total to 11.1p.

CEO Ken Greetham commented:

"Wynnstay has delivered a pleasing performance in a trading environment that has been impacted by continuing low output prices for farmers. The Group achieved a record underlying pre-tax profit of £9.05m, 4% ahead year-on-year.

"These robust results were supported by recent acquisitions as well as increased volumes and efficiency gains in some sectors. We continued to expand our business during the year, including the acquisition of Agricentre at the year end, which brings eight new outlets and extends the Group's presence into a major new geographic region.

"Farmgate prices remain a challenge for the industry, with prices still below the realistic cost of production for many farmers. With the consequent impact on farm sentiment, it is prudent to take a more cautious view on trading for the year ahead.

"However the longer term macroeconomic growth drivers for the sector remain compelling and we intend to continue to build on the Group's solid foundations, developing Wynnstay's presence both organically and through further acquisitions."






Story provided by StockMarketWire.com