http://www.carrs-milling.com/

http://www.carrs-milling.com/factsheet.pdf


Carr's Milling Industries PLC is a United Kingdom-based company. The Company, along with its subsidiaries, is engaged in agriculture trading, agriculture manufacturing, food and engineering. The Company's Agriculture Trading segment provides all farming requirements. It is engaged in the sale of animal feed and feed blocks together with retail sales of farm equipment, fuels and farm consumables. The Food segment is engaged in the milling of wheat into flour. Its Engineering segment is engaged in the design and manufacture of remote handling equipment for use in research and nuclear industries. In addition, the United Kingdom business is engaged in the design and manufacture of pressure vessels for the oil, petrochemical and gas industry. During the fiscal year ended August 28, 2010, the Company acquired the trade of Ag Chem fertilizer, A C Burn, which is an animal feed and farming supplier, and Scotmin Nutrition, which is an animal feed supplements.

Interim Results

Financial highlights

· Revenue up 18.1% to £231.6m (H1 2012: £196.0m)

· Profit before taxation up 36.2% to £10.1m (H1 2012: £7.4m)

· Diluted EPS up 53.1% to 79.9p (H1 2012: 52.2p)

· First interim dividend up 6.9% to 7.75p (1st interim 2012: 7.25p)

· Net debt of £19.0m (£2.5m as at 1 September 2012)



Commercial highlights

· Agriculture revenue up 17.8% and profit before tax up 21.4%, with animal feed benefiting from adverse weather conditions, feed blocks experiencing strong demand in the UK and USA, and retail and fuel distribution continuing to expand in Scotland and Northern England.

· Food revenue was up 8.0% and profit before tax up 10.9% with cost-effective access to imported wheat offsetting volatility on flour milling. The new mill in Kirkcaldy is on target to start production in September with over-capacity in Scotland reduced through closure of a competitor in Glasgow.

· Engineering revenue up 81.9% and profit before tax up 39.0%, reflecting demand for remote handling equipment and specialist fabrications from nuclear, petrochemical and other industries. Phase 2 of new factory in Germany complete and final phase expected to complete in November.






http://www.moneyam.com/action/news/showArticle?id=4575077

Carrs Milling: Investec raises target price from 1125p to 1400p staying with its buy recommendation.

Another 2.5% today

Carrs Milling Industries PLC (CRM:LSE) set a new 52-week high during today's trading session when it reached 1,240. Over this period, the share price is up 49.24%.

A buy in this weeks IC - Adverse weather conditions during the past six months have been positive for food producer, agricultural supplier and engineering specialist CARR'S MILLING INDUSTRIES. Extra demand for specialist animal feed due to poor grazing conditions meant an extra £1.1m of weather - related gains. Accordingly operating profit grew 31% year on year to £8.8m, with no let up in the pressure on feed supplies forecast this year. A PE ratio of nine looks undemanding and investec's sum-of-the-parts valuation suggests a price target of 1,400p

Up 7.44%

Carrs Milling Industries PLC (CRM:LSE) set a new 52-week high during today's trading session when it reached 1,299. Over this period, the share price is up 52.82%.

Carrs Milling Industries PLC (CRM:LSE) set a new 52-week high during today's trading session when it reached 1,309. Over this period, the share price is up 54.93%.As of Apr 26, 2013, the investment analyst covering Carr's Milling Industries PLC advises investors to purchase equity in the company. This has been the consensus forecast since the sentiment of investment analysts improved on Feb 07, 2013. The previous consensus forecast advised that Carr's Milling Industries PLC would outperform the market.

Carrs Milling Industries PLC (CRM:LSE) set a new 52-week high during today's trading session when it reached 1,329. Over this period, the share price is up 52.46%.

BUT it is ridiculously illiquid .... the spread is therefore likely to be very wide, and heaven forbid you should get the call wrong as there'll be no market into which to sell

That's why you buy at the bottom and sell at the top.

hahaha! and how do you know what is top and what is bottom?

I know what you are saying. :-)) I often get out from a share early on my say so as to say.

Carrs Milling: Investec raises target price from 1125p to 1400p staying with its buy recommendation.

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Carrs Milling Industries PLC (CRM:LSE) set a new 52-week high during today's trading session when it reached 1,335. Over this period, the share price is up 57.06%.

Acquisition

RNS


RNS Number : 7221G

Carr's Milling Industries PLC

11 June 2013




IMMEDIATE RELEASE

11 June 2013


CARR'S MILLING INDUSTRIES PLC ("Carr's" or the "Group")


Acquisition USA feedblock business & New UK Plant Commissioned;



Carr's (CRM.L), the fully-listed agriculture, food and engineering group, announces that its wholly owned USA subsidiary, AFS Inc, has acquired the business and assets of Western Feed Supplements ("WFS"), a low moisture feed block manufacturer located in Silver Springs, Nevada, from California's largest feed manufacturer, Western Milling, for a cash consideration of £0.6 million. Following the acquisition, Carr's plans to invest in a modernisation programme at Silver Springs to create another state-of-the-art production facility for low moisture tubs, supplying the West Coast beef and dairy markets of the USA.



The acquisition is expected to have a broadly neutral earnings impact during the current financial year, becoming earnings positive following the completion of the modernisation programme.



Following AminoMax's® success in the USA, Carr's is currently commissioning a new AminoMax plant at Lancaster, Lancashire, UK. The new plant will commence production in July 2013. AminoMax® is the unique patented bypass protein feed product, which improves the performance of dairy cattle. AminoMax has been successfully manufactured in the USA at the Group's plant at Watertown, New York State. The Group is in the process of expanding production at Watertown to capitalise on the growing demand for the product. The Lancaster plant has been built utilising the proven manufacturing technologies and processes used at Watertown.





Tim Davies, Chief Executive of Carr's, commented:



"The acquisition of Western Feed Supplements is a natural strategic step for Carr's which follows our success in the USA feedblock market. WFS extends our geographic coverage in the USA in the low moisture tubs market and we expect to grow our market share in the feedblock business.



Carr's has a growing international reputation for its research-based approach to developing innovative products that improve the productivity and profitability of its agricultural customers. The decision to invest in the AminoMax® plant at Lancaster is part of Carr's strategy for continued organic growth."

In IC this week - cultivate big returns from these farmers friends.

It has recently seen extra demand for specialist animal feed due to poor grazing conditions and, trading on 10 times forward earnings , is below the peer average of 13.


Market cap £115.5m price change - 12months (%) 52 Forward PE ratio 10

Interim Management Statement

RNS


RNS Number : 2711J

Carr's Milling Industries PLC

15 July 2013









IMMEDIATE RELEASE

15 July 2013




CARR'S MILLING INDUSTRIES PLC ("Carr's", the "Company" or the "Group")



Interim Management Statement

Carr's (CRM.L), the agriculture, food and engineering group, announces its second Interim Management Statement for the year ending 31 August 2013, as required by the UK Listing Authority's Disclosure and Transparency Rules.

The Statement relates to the 18 week period ended 6 July 2013.

The financial performance of Carr's has benefited from a continuation of strong growth in activity achieved in the first half, reflecting further development across the Group and successful international expansion. Taking into account the normally lower levels of seasonal trading for the final quarter, the Board is confident that Carr's will deliver strong earnings growth in line with the Company's expectations.

Agriculture

The beneficial impact on revenue and profit of the Agriculture division from one-off weather-related factors, referred to in our interim results announcement in March, continued through to May. In the UK, the cold and wet conditions persisted through Easter and beyond, which stimulated a high level of sales of compound feed, feed blocks, animal health products and fuel. In the USA, the combination of droughts and a generally harsh winter resulted in poor quality forage in the spring, which increased the market for feed blocks.

Demand for our feed blocks continues to grow strongly in the USA, UK, mainland Europe and New Zealand. A substantial amount of the growth relates to greater recognition of our brands, including: Crystalyx™, Smartlic™, Feed in a Drum™ and Horslyx™, based on increased awareness of the benefits to livestock performance.

AminoMax™, the patented rumen bypass protein for dairy cattle, is now achieving record production from the operation at Watertown, New York State. Revenue and profit from this 50% joint venture are meeting targets, and as a result of increasing customer demand £1.6 million is being invested to increase capacity at Watertown, with completion due by November 2013.

The 100% owned AminoMax™ plant at Lancaster opened in June to launch the added value product in the UK market. The plant uses the proven manufacturing technologies and processes pioneered at Watertown, and early indications of the reception for AminoMax™ from UK dairy farmers are encouraging.

The UK retail network continues to perform well, although sales of farm machinery have fallen reflecting the pressure on farm incomes. The investment in our flagship store at Carlisle has been successfully completed in line with our on-going investment strategy for our retail network.

Food

The financial performance of our milling business, operating in an industry plagued by over-capacity and volatile input prices for years, has begun to improve. As with the Agriculture division, weather-related factors have had a beneficial impact; the exceptionally poor UK harvest of 2012 has led to a significantly greater dependence on overseas wheat and the port-side location of two of our three mills (Kirkcaldy and Silloth) continues to give Carr's cost-effective access to overseas wheat. Given the cold and wet conditions of this winter and spring, the outlook is for another low volume harvest in 2013 and possible further reliance on overseas wheat.

The closure of a competitor mill at Glasgow in March 2013 eased some capacity-related pressures in the Scottish market. The new state-of-the-art mill being built at Kirkcaldy is on track for commissioning in September, with the planned significant efficiencies and improvements in operating margins coming through next year.

Engineering

The division continued to build revenues strongly, maintaining the momentum established in 2012 as a result of increasing global demand for remote handling equipment and robotics from the nuclear and petrochemical industries.

Wälischmiller, based in Markdorf in Southern Germany, continues to enjoy buoyant demand for its remote handling and robotics products including the Telbot™ and bespoke special purpose manipulators. Several major contracts have been completed in the period and the order book continues to be healthy. The redevelopment of the factory and offices at Markdorf will be completed by the end of November 2013, enhancing productivity and efficiencies, as well as providing some additional capacity.

Bendalls' major multi-million dollar contract with Hyundai to supply pressure vessels for BP Quad 204, west of the Shetland Islands, will be substantially completed by the end of the financial year with the remainder delivered by the end of the current calendar year.

The sales momentum at Carrs MSM accelerated during the period with the business benefiting from the 'life of plant' contract at Sellafield, and financial performance is ahead of budget. The growing importance of Carrs MSM to the Engineering division is underpinned by sales visibility through to 2020.

Acquisitions

In line with our strategy of increasing our international footprint in the feed block market, we announced the acquisition of Western Feed Supplements, a low moisture feed block manufacturer, in June for £0.6 million. The plant, based in Silver Springs, Nevada, now enables Carr's to supply the West Coast dairy and beef markets with low moisture feed blocks. Further investment in greater capacity and modernisation of the plant is underway.

Financial position

At 1 June, net debt was £28.4 million, up £25.9 million from £2.5 million at 1 September 2012. The movement is largely explained by the planned capital expenditure programmes across all three divisions. However, the longer winter and associated higher levels of demand have increased working capital requirements over the third quarter. Undrawn committed facilities at the end of Q3 were £16.3 million.

Dividend

A second interim dividend of 7.75 pence per share (2012: 7.25 pence per share) will be paid on 11 October 2013 to shareholders on the register on 20 September 2013. The ex-dividend date will be 18 September 2013.

END

15 Jul Investec 1,400.00 Buy

Carrs Milling Industries PLC (CRM:LSE) set a new 52-week high during Friday's trading session when it reached 1,350. Over this period, the share price is up 53.41%.

Further US expansion

RNS


RNS Number : 0429M

Carr's Milling Industries PLC

20 August 2013


IMMEDIATE RELEASE




CARR'S MILLING INDUSTRIES PLC ("Carr's" or the "Group")



Further international expansion of low-moisture feed block business



Carr's (CRM.L), the agriculture, food and engineering group, announces that its wholly owned USA subsidiary, AFS Inc. ("AFS"), is investing in a newly established joint venture for the production of its patented low-moisture feed block products.



The new joint venture company, to be called ACC Feed Supplement LLC ("ACC"), will be 50 per cent. owned by AFS and Consumer Supply Distributing LLC ("CSD"). CSD is 50% owned by existing AFS customer, CHS Inc ("CHS").



ACC will build a low-moisture feed block plant at the premises of CSD in Sioux City, Iowa with an annual capacity of 12,000 tonnes, incorporating proprietary processing technology. The new plant will commence production in the second half of 2014 and will supply customers of AFS, CHS and CSD.



CHS is a leading global agribusiness owned by farmers, ranchers and co-operatives across the USA, and supplies: energy, crop nutrients, grain marketing services, livestock feed, food and food ingredients. CHS preferred stock is listed on NASDAQ and is a Fortune 100 company.



Tim Davies, Chief Executive of Carr's, commented:



"Investing in ACC is in line with our strategic objective of building our share of the US low-moisture feed block market. We are experiencing continuing growth and demand for our patented low moisture feed blocks both in the USA and across all markets. ACC adds to our coverage of the USA where CHS and CSD have a significant, nationwide sales and distribution network."



ACC will add to existing low-moisture feed block plants in Nevada, Oklahoma and South Dakota, increasing AFS' presence in the Central, Southern and Western markets in the USA.



END