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Carr's Group (CARR)

Share Price:
Up 139.00p
Change Today:
6.00p
Market Cap:
127.80m

Carr's Group trading in line with expectations

17 Jul 19

LONDON (ShareCast) - (Sharecast News) - Agriculture and engineering group Carr's said on Wednesday that trading for the current financial year is in line with the board's expectations.
In the agriculture business, unseasonably mild and dry weather through to the end of April reduced demand for feed and fuel but this was partially offset by high levels of farm activity due to good growing conditions, and by ongoing cost management activities.

Carr's said volumes in its new low moisture feed block plant in Shelbyville, Tennessee, continued to grow, while the integration of Animax - the manufacturer of trace element supplements for livestock it acquired last year year - continued to make progress.

In the engineering segment, the group said order books in UK manufacturing have strengthened, but order books in the remote handling unit have dropped, as previously reported. Still, Carr's said "the level of global opportunities, particularly in Europe and Japan, is increasing which provides confidence in the medium term".

Carr's added that its US engineering business has a "very strong" order book position and opportunity pipeline following a number of contract wins previously announced.

"As we have previously stated, significant uncertainty remains associated with Brexit and the UK's future relationship with the EU, and we continue to closely monitor the position. Our diversified agriculture business and international footprint provide some protection from the impact of an adverse outcome to Brexit negotiations."

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Market Data

Currency UK Pounds
Price 139.00p
Change Today 6.00p
52 Week High 173.00p
52 Week Low 130.00p
Volume 76,334
Shares Issued 91.94m
Market Cap 127.80m

Dividends

  Latest Previous
  2nd Interim 1st Interim
Ex-Div 29-Aug-19 25-Apr-19
Paid 04-Oct-19 31-May-19
Amount 1.12p 1.12p