2013-01-23 xml twitter
Wynnstay Announces Record Profits

Wynnstay Group, the agricultural and specialist retail business based in Llansantffraid, Mid Wales, has announced record results for the year ending 31st October 2012.

The Group, which employs over 900 people, reported a 9% increase in revenues to £375.78m, with an increase of 13% in pre-tax profits to £7.82m.

Wynnstay Lorry

The agricultural division performed strongly with an 8% increase in revenues, helped by a full year contribution from GrainLink, the Group’s grain marketing business, as well as a strong demand for feed during the year. The specialist retail division also saw a significant growth with a 13% increase in revenues, much of which is credited to the Group’s recent geographical expansion through country store acquisitions and new Just for Pets store openings.

Ken Greetham, Chief Executive, commented,

“Wynnstay continues to perform well and pre-tax profits and revenues for the year stand at record levels. This pleasing achievement is underpinned by the broad spread of our agricultural activities and reflects both the organic and acquisitive development of the business.

"Over the year, we acquired a number of small agricultural supplies businesses, further expanded our Just for Pets chain and established FertLink, a joint venture fertiliser business. These moves will help to support ongoing growth and also extend Wynnstay’s geographic reach into Oxfordshire and Gloucestershire.

Wynnstay has for sometime been an active participant in agricultural consolidation. As part of our growth plan, we will continue to acquire businesses which fit our model whilst also developing Wynnstay organically. The Group has a strong financial base from which to grow, with low gearing and good cash flow. Our broad base continues to be a major factor in providing sustainable returns for all stakeholders in the business and I have confidence that our Group will continue to develop over the coming years.”

Wynnstay Group

   
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