Wynnstay Group (WYN)

Sector:

Food

Index:

FTSE AIM All-Share

355.00p
   
  • Change Today:
    -12.50p
  • 52 Week High: 507.00p
  • 52 Week Low: 325.00p
  • Currency: UK Pounds
  • Shares Issued: 22.99m
  • Volume: 52,674
  • Market Cap: £81.60m
  • RiskGrade: 162

Wynnstay puts in resilient performance in tough year for sector

By Josh White

Date: Wednesday 27 Jan 2021

LONDON (ShareCast) - (Sharecast News) - Agricultural products and services company Wynnstay reported "resilient" results for the 2020 financial year on Wednesday, in what it described as a "year of unprecedented challenges" for the sector.
Revenue came in at £431.4m, down from £490.6m, which the board said was affected by commodity deflation and reduced volumes in certain traded commodities, in particular grain.

The AIM-traded firm said the 2019 autumn planting season was "historically poor", with the 2020 UK harvest at a 20-year low.

It also reported subdued farmer confidence and investment, reflecting weaker farmgate prices in the first half of the year ended 31 October, as well as Brexit uncertainty, and the impact of the Covid-19 pandemic.

Wynnstay did report a 4% improvement in its underlying pre-tax profit to £8.37m, while reported profit before tax slipping to £6.98m from £7.55m.

Basic earnings per share, including non-recurring items, totalled 27.73p, down from 30.95p year-on-year.

Net cash at year-end was up £8.42m to £14.71m before the implementation of IFRS 16, while net assets improved to £98.18m or £4.92 per share at year-end, from £94.95m or £4.79 per share a year earlier.

The board proposed a final dividend of 10p, up from 9.4p for 2019, taking the total distribution for the year to 14.6p, up 4.3% over the prior year.

Looking at the 2021 financial year, Wynnstay said farmer confidence had "significantly" improved, with the EU trade deal agreed and stronger farmgate prices evident.

It said the UK Agriculture Bill would create "significant opportunities", with farmers now incentivised for efficiency and environment initiatives.

Trading so far in the new financial year was in line with management expectations.

"Wynnstay's strengths have been clearly demonstrated in what was an exceptionally difficult year for both the agricultural sector and wider society," said chief executive officer Gareth Davies.

"Our resilient results reflect well on our balanced business model, strong financial management and recent growth initiatives.

"The new financial year has started well, and Wynnstay's performance is in line with management expectations."

Davies said the company remained focussed on developing its channels to market, investing to build capacity and capability, particularly advisory, and implementing efficiencies.

"Stronger farmgate prices, the EU settlement and UK Agricultural Bill continue to buoy sentiment across the farming sector.

"We believe that Wynnstay is in an excellent position to help farmers adapt to new priorities set by the Agricultural Bill, and look to the future with confidence."

At 1051 GMT, shares in Wynnstay Group were down 1.51% at 359.5p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Wynnstay Group Market Data

Currency UK Pounds
Share Price 355.00p
Change Today -12.50p
% Change -3.40 %
52 Week High 507.00p
52 Week Low 325.00p
Volume 52,674
Shares Issued 22.99m
Market Cap £81.60m
RiskGrade 162

Wynnstay Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
91.80% above the market average91.80% above the market average91.80% above the market average91.80% above the market average91.80% above the market average
68.00% above the sector average68.00% above the sector average68.00% above the sector average68.00% above the sector average68.00% above the sector average
Price Trend
49.6% below the market average49.6% below the market average49.6% below the market average49.6% below the market average49.6% below the market average
85.71% below the sector average85.71% below the sector average85.71% below the sector average85.71% below the sector average85.71% below the sector average
Income
59.90% above the market average59.90% above the market average59.90% above the market average59.90% above the market average59.90% above the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average
Growth
33.81% below the market average33.81% below the market average33.81% below the market average33.81% below the market average33.81% below the market average
12% below the sector average12% below the sector average12% below the sector average12% below the sector average12% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Wynnstay Group Dividends

  Latest Previous
  Final Interim
Ex-Div 28-Mar-24 28-Sep-23
Paid 30-Apr-24 31-Oct-23
Amount 11.75p 5.50p

Trades for 28-Mar-2024

Time Volume / Share Price
16:13 16,197 @ 352.00p
16:25 6,500 @ 357.00p
16:25 850 @ 355.00p
16:03 1,193 @ 352.00p
15:32 278 @ 357.00p

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