Business
Preliminary Results
Preliminary Results.
About this update from Wynnstay Group Plc
[{"type":"text","content":"\n Wynnstay Group PLC\n24 January 2007\n\n\nWYN.L\n WYNNSTAY GROUP PLC\n\n ('Wynnstay' or 'the Group')\n\n Preliminary Results for the year ended 31 October 2006\n\nBased in Wales, Wynnstay manufactures and supplies agricultural products and\nservices for farmers and operates a network of 24 stores providing a wide range\nof products both for farmers and country dwellers.\n\n Key Points\n\n •Creditable results against challenging trading conditions\n\n - H2 improvement, as expected\n - strength of diversified business base reflected in results\n\n •Total turnover of £110.9m\n\n •Pre-tax profit of £2.534m\n\n •Basic earnings per share of 18.08p\n \n •Net assets increased by 10% to £25.26m\n\n •Proposed final dividend of 3.5p per share, making total dividend for the\n year of 5.25p, up 5% over last year\n\n •Acquisition in August of Glasson Group (Lancaster) Limited for total of\n £2.4m\n\n - benefits Group's three major divisions, Feeds, Arable and Stores\n - expected to be earnings enhancing in current financial year\n\n •Launch of 'Just for Pets' stores - exciting new development\n\n - first store to open in Telford with 2 further stores over new financial year\n\n •Board optimistic for outlook for Group\n\n - important Spring market still to come\n\nBernard Harris, Managing Director, commented,\n\n'This year was especially challenging with the commencement of the EU Single\nFarm Subsidy Payment and rising fuel and power prices. However, as anticipated,\nwe saw an improvement in trading conditions in the second half. Against this\nbackdrop, our results are creditable and reflect the strength of our diversified\nbusiness base.\n\nLooking forward, the launch of our new 'Just for Pets' stores is an exciting\ndevelopment and we anticipate opening our first dedicated pet products store in\nMarch 2006 and two further stores by the end of the current financial year.\nAlso, we expect to see the benefits of our acquisition of Glasson to come\nthrough over the year.\n\nWhile the important Spring market is yet to come, the Board is optimistic for\nthe outlook for the Group.'\n\n\nPress enquiries:\n\nWynnstay Group plc Bernard Harris, Managing Director T: 020 7448 1000 today\n Paul Roberts, Finance Director Thereafter: 01691 828512\n\nBiddicks Katie Tzouliadis T: 020 7448 1000\n\nWH Ireland Limited David Youngman T: 0...