2013-06-21  facebook twitter rss
Increased Sales Brings Benefits to Agricultural Business

Wynnstay Group, the agricultural and specialist retail business based in Llansantffraid, Mid Wales, has revealed its strongest ever set of half year trading figures.

The Group has announced a 12% rise in revenues to £216.12m and a 15% increase in pre-tax profit to £5.21m for the six month period to 30 April 2013.

Wynnstay

The Wynnstay Group, which is based in Llansantffraid, Wales, manufactures and supplies agricultural products and services for farmers throughout Wales and the UK

The agricultural division saw revenues increase by 11% to £172.29m reflecting a combination of higher feed, seed and fertiliser volumes along with the contribution from new acquisitions and some inflation in commodity prices.

The specialist retail division experienced 13% growth in revenues to £43.76m, both Wynnstay Stores and Just for Pets, the Group’s specialist pet business saw like-for-like growth as well as added sales from acquired and newly opened stores.

Ken Greetham, Chief Executive, commented,

“Our interim results reflect a combination of factors, including the expansion of the Wynnstay Stores chain, strong raw material and feed sales as the cold weather extended the normal feeding season, and increased seed and fertiliser volumes. Against this, our grain marketing operations saw reduced volumes, impacted as expected by the very poor harvest of 2012. The broad base of the Company’s activities continues to be a major strength, helping to smooth the effects of differing conditions across our marketplaces.

The agricultural industry has faced a number of challenges over the past year, and will certainly be faced with more in the future; we will continue to invest in our business infrastructures to ensure operational efficiencies enabling us to offer a high level of service to our loyal customer base.

There is opportunity for further consolidation within the industry and the Group is well placed to continue to execute its strategy of organic growth combined with selective acquisitions.”

In April the Group announced the addition of Philip Kirkham to the Board of Directors as a Non-Executive following the retirement of John Davies, former Chairman in March. Mr Kirkham, a well-respected dairy farmer brings with him to the board further agricultural and corporate experience.

Wynnstay


   
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