Date: Tuesday 28 Jan 2014
LONDON (ShareCast) - - Increased earnings despite difficult weather conditions
- Lifts dividend after strong demand across the group
- Well positioned for future growth
Welsh agricultural products supplier Wynnstay reported increased full-year profit and upped its dividend payment after seeing organic growth across all divisions.
Pre-tax profit before exceptional items rose by 8% to £8.46m for the year ended October 31st 2013 while revenue climbed 10% to £413.48m.
In its Agricultural Division, revenues rose 9% to £323m while operating profit increased 4% to £4.9m on rising feed and raw material volumes.
Its Specialist Retail Division saw revenues rise 12% to £90.19m while operating profit advanced 13% to £4.43m, boosted by new store additions and a more buoyant market for all products.
Chief Executive Ken Greetham commented: "Like last year, the trading backdrop has been dominated by very difficult weather conditions and these strong results demonstrate once again the resilience of the business model."
Looking ahead, Wynnstay said is well positioned to continue its growth.
Underlining its confidence in future growth Wynnstay has proposed a final dividend of 6.20p, taking total for the year to 9.30p, a rise of 9%.
CJ
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Share Price | 356.00p |
Change Today | -11.50p |
% Change | -3.13 % |
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