StockMarketWire.com - Wynnstay has reported an H1 pretax profit down at £125,000, from £4.1m, due to £3.9m of goodwill and investment impairment.

Revenue was £205.3m, from £193.2m. Interim dividend was 4.2p a share, up from 4p previously. Net assets totalled £85.03m, from £85.06m.

"It is encouraging to see an improvement in output prices for our farmer customers," said chairman Jim McCarthy.

"However the current oversupply of many commodities in the Global market and the negotiations for the UK's exit from the European Union will bring further challenges for many farming enterprises.

"Nonetheless the strategic and environmental importance of UK agriculture should provide a foundation for an increasingly efficient industry in which a focus on productivity will remain a major consideration for many customers."

McCarthy said that all of this provided for a challenging backdrop for the agricultural supply industry and would affect the rate of recovery of the supply sector.

"Wynnstay is well-placed to continue its organic and acquisitive growth strategy. In addition, it is actively addressing the issues at Just for Pets.

"The breadth of our activities, our talented team and strong balance sheet provide firm foundations for the Group's further development over the coming years."






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