Carr's Milling reports strong first half

AGRICULTURE to engineering business Carr’s today reported a 12% increase in sales and a 31% jump in profits.

Chris Holmes, Chief executive of Carrs Milling

AGRICULTURE to engineering business Carr’s today reported a 12% increase in sales and a 31% jump in profits.

The Carlisle-based business said sales reached £196m in the six months to March 3, while profits stood at £7.4m for the first set of results since it sold its fertiliser business.

Carr’s agriculture revenues were 12% ahead at £147.2m, while the food division’s sales jumped 8% to £41.4m and engineering revenues increased 33% to £7.4m.

Group chief executive, Chris Holmes, said: “The board is pleased with the first half performance, which was ahead of our forecast.

“The trading environment, particularly in agriculture, is mixed due to the milder weather conditions experienced and this trend has continued into the second half. However, demand for our products, particularly animal feed blocks, remains strong.

“Following the profit growth achieved in the first half the Board believes the results for the year will be ahead of the expectations that the Company had at the beginning of the year, and is well positioned for sustained profitable growth.”

 

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