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Carr's makes upbeat start to year despite mild autumn weighing on demand

By BFN News | 09:27 AM | Tuesday 08 January, 2019

Agricultural company Carr's said Tuesday the new financial year had 'started well,' even as the mild autumn crimped demand for oil and certain animal health products and supplements. Sales volumes of feed blocks in the USA had started the year 'strongly' following the recovery of cattle prices, the company confirmed. In the UK and Europe, meanwhile, feed block volumes were in line with the management expectations. The UK manufacturing business had also begun the year in line with the board's expectations and the order book remained strong, it added. Ahead of today's AGM, the company proposed final dividend of 2.35p a share for the year, which would require shareholder approval. 'The new financial year has started well with trading in line with the Board's overall expectations. We remain confident that the investments made in acquisitions, research and product innovation leave the Group well positioned for future growth,' said Tim Davies, Chief Executive. 'Whilst some clarity has been provided over the government's future policy on farming support, Brexit uncertainty remains for our customers and certain supply chains within which we operate.' 'Further clarity over the UK's future trading relationship with the EU would bring greater confidence and stability back to our customers and marketplace although the Group remains confident that it is well placed in the medium term.' At 9:27am: (LON:CARR) Carrs Group Plc share price was -7.25p at 152.5p Story provided by

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