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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

TSTFKDDPOBDDPDB

(END) Dow Jones Newswires

November 22, 2018 02:00 ET (07:00 GMT)

Wynnstay (LSE:WYN)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Wynnstay Charts.
Wynnstay (LSE:WYN)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Wynnstay Charts.