- Carr's reported annual results that were 'moderately' ahead of its expectations thanks to strong in its engineering division.

For the year ended 31 August 2019, pre-tax profit rose 5.2% to £16.3m and revenue was up just 0.2% to £403.9m on-year.

Adjusted operating profit, was up 8.4% to £18.9m with agriculture contributing £13.6m, compared with £13.4m last year, and engineering £5.3m, compared with £4.1m.

The company proposed a final dividend of 2.5p, taking the total to 4.75p per share for the year, up from 4.5p.

'We are pleased to have delivered a strong financial performance in the year, moderately ahead of the board's expectations, despite unseasonable weather significantly impacting trading across our agriculture division,' the company said.

'Trading in the new financial year has started in line with the board's expectations in Agriculture. In Engineering, we have had a slower start than expected due to contract phasing, however, order books are strong and we remain confident in the full year outlook,' it added.

At 8:44am: [LON:CARR] Carrs Group Plc share price was +1.5p at 144.5p

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