22nd Mar 2016 11:47
LONDON (Alliance News) - Agricultural products company Wynnstay Group PLC said Tuesday trading in the four months to February was broadly in line with management expectations, despite subdued trading in the agricultural sector.
Wynnstay said, in a statement to be given at the company's annual general meeting, demand for dairy feed reduced over the mild winter period, but poultry, beef and sheep feed sales remain buoyant, in line with previous years.
The group said demand for arable products has gained momentum over recent weeks and is now up to the levels of the prior period, whilst grain trading volumes increased over the equivalent period a year earlier, although margins still remain under pressure.
Wynnstay noted its Glasson business is not budgeted to repeat the strong performance it saw in the last financial year.
It added, within its specialist retail division, trading at Wynnstay stores has improved after a slower start and an active trading period is anticipated as livestock are turned out in the Spring.
Like-for-like sales at Just for Pets, the pet supplies chain, were slightly behind the prior year, Wynnstay said, but the roll-out programme is progressing well, with new Just for Pets sites identified.
Shares in Wynnstay were down 2.7% at 160.00 pence on Tuesday.
By Hannah Boland; [email protected]; @Hannaheboland
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Wynnstay