21st Dec 2023 15:24
Carr's Group PLC - Carlisle, England-based agriculture supplies and engineering services - Holds annual dividend unchanged at 5.2 pence per share, despite an 80% fall in pretax profit to GBP1.5 million in the financial year that ended September 2 from GBP7.6 million the year before. Revenue rises by 15% to GBP143.2 million from GBP124.2 million, but distribution costs and administrative expenses each rise by nearly a third. Adjusted pretax profit is GBP7.5 million, down 33% from GBP11.2 million. Carr's says that while trading in its Agriculture division remains "challenging", its Engineering arm had a strong second half to financial 2023, with an order book of GBP60 million, up from GBP41 million a year before. This will enable growth in financial 2024, for which the company's expectations are unchanged.
Current stock price: 102.50 pence, up 8.4% in London on Thursday afternoon
12-month change: down 12%
By Tom Waite, Alliance News editor
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