9th Oct 2024 10:59
Carr's Group PLC - Carlisle, England-based agriculture and engineering company - Says trading for the year ended August 31 is broadly in line with expectations, and that it closed with net cash of GBP4.5 million, up 7.1% from GBP4.2 million last year. It says its exploration of options to maximise shareholder value for its engineering division is proceeding "satisfactorily", the integration of its agriculture division businesses under a single management team has been completed, and cost reduction efforts are progressing as planned. Carr's is also exploring the removal of risk of future pension scheme volatility.
Broker Shore Capital currently forecasts an adjusted pretax profit of GBP9.0 million for financial 2024, which would represent a 20% increase from the company's adjusted pretax profit of GBP7.5 million in 2023.
Carr's expects to announce its full-year results in mid-December 2024.
Current stock price: 129.00 pence, down 2.3% in London on Wednesday morning
12-month change: down 0.8%
By Emily Parsons, Alliance News reporter
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