Business
Half-year Report
Half-year Report.
About this update from Wynnstay Group Plc
[{"type":"text","content":"\n \nRNS Number : 5543C Wynnstay Group PLC 29 June 2016 \n\nAIM: WYN\n29 June 2016\n \nWYNNSTAY GROUP PLC\n(\"Wynnstay\" or \"the Group\")\n \nHalf Year Results\nFor the six months to 30 April 2016\n \nKey Points\n \n· Robust results in line with management expectations \n - balanced business model continued to help offset impact of poor trading environment; low prices for farmers' products now in second year\n \n· Revenue of £193.24m (2015: £200.56m) - commodity price deflation reduced revenue by c. £20m\n \n· Pre-tax profit of £4.08m (2015: £4.82m) \n \n· Earnings per share of 17.22p (2015: 20.26p)\n \n· Net debt at 30 April 2016 reduced to £3.90m (2015: £8.09m)\n \n· Net assets at 30 April 2016 increased to £85.06m (2015: £80.28m)\n \n· Interim dividend of 4.00p (2015: 3.70p) - an increase of 8.1%\n- in line with progressive dividend policy\n- reflects Board's view of cyclical nature of sector downturn\n \n· Agricultural Division - revenue of £135.18m, operating profit of £1.82m\n- affected by lower demand for dairy-related feed products\n- arable products in H1 higher year-on-year after a relatively slow start\n \n· Specialist Retail Division - revenue of £57.97m, operating profit of £2.41m\n- affected by wider sector conditions although trading at Wynnstay Stores was generally encouraging \n- Agricentre integration underway - expected to make a positive contribution to Group in 2017. H1 revenue contribution of £5.97m\n \n· Shorter term challenges remain but the Group is positioned to achieve its targets for the full year \n \nKen Greetham, Chief Executive of Wynnstay, commented:\n\"We are pleased to deliver robust results, in line with management expectations, despite a particularly challenging backdrop of poor output prices for farmers, which has affected the entire industry. These robust results have been underpin...