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.

Update on Kirkcaldy mill and notice of results

RNS


RNS Number : 1321O

Carr's Milling Industries PLC

17 September 2013








17 September 2013





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



Confirmation that Kirkcaldy mill is operational and notice of preliminary results



Carr's (CRM.L), the agriculture, food and engineering group, is pleased to confirm that its state of the art flour mill at Kirkcaldy is operational and has commenced a planned roll out to supply customers.



Tim Davies, Chief Executive of Carr's commented: "We are delighted that our Kirkcaldy mill is up and running on time and within budget as anticipated and we look forward to seeing the efficiencies and improvements from this investment coming through in 2014."



The Company will issue its preliminary results for the year ended 31 August 2013 on Monday 11 November 2013.

Full Year Results

RNS


RNS Number : 6288S

Carr's Milling Industries PLC

11 November 2013














11 November 2013




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



FULL YEAR RESULTS



"New Horizons for Growth"



Carr's (CRM.L), the fully-listed agriculture, food and engineering group, announces results for the 52 weeks ended 31 August 2013.



Financial highlights (continuing operations)



· Revenue up 15.8% to £468.1m (2012: £404.1m)

· Profit before taxation up 21.5% to £15.9m (2012: £13.1m)

· EBITDA up 20.3% to £22.2m (2012: £18.4m)

· Basic EPS up 31.1% to 128.7p (2012: 98.2p)

· Adjusted EPS up 26.8% to 128.7p (2012: 101.5p)

· Proposed final dividend of 16.5p up 13.8% resulting in a total for the period of 32.0p (2012: 29.0p)

· Capital expenditure of £19.1m during the period with net debt of £22.1m at the period end (2012:£2.5m)



Commercial highlights



· Agriculture revenue up 15.9% to £340.4m with profit before tax (including contribution from associate and JVs) up 22.5% to £11.6m. Performance reflects the beneficial impact of the weather in the UK and USA as well as market share gains and the expansion of the retail network.

· Food revenue up 17.0% to £94.2m, with profit before tax up 26.5% to £0.6m reflecting increased sales volumes and the benefit of port locations for imported wheat following the poor UK wheat harvest.

· Engineering revenue up 12.4% to £33.4m, reflecting a busy period at Wälischmiller and MSM but with profit before tax down 10.6% to £4.2m following Bendalls' settlement with Bechtel.



Chris Holmes, Chairman, said:



"With a new Chief Executive and Group Finance Director this has been a year of transition for Carr's, a transition which has been effected smoothly and successfully. The Group has achieved a record profit for the year, building on last year's success. This success can be attributed to strong operational performance, on-going pursuit of our strategic aims, benefits from the investments in assets, research and innovation, as well as assistance from adverse weather conditions, particularly in the UK and USA."

11 Nov Investec N/A Buy

In Shares - Growth and income-hungry investors may look to nurture a position in agriculture, food and engineering combine Carr's Milling Industries. Organic market share gains and scope for acquisitions mean Carr's should flourish amid further forecast upgrades, potentially as early as April's interim statement.

Acquisition

RNS


RNS Number : 3713E

Carr's Milling Industries PLC

09 April 2014








9 April 2014



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



Acquisition of Chirton Engineering Limited

Carr's, the fully-listed Agriculture, Food and Engineering group, is pleased to announce the acquisition of the entire issued share capital of Chirton Engineering Limited ("Chirton"), a subcontractor in the precision engineering component space. The initial cash consideration payable is £2.75m. Subject to certain criteria being met in the 5 year period following the acquisition, an additional cash amount, subject to an earn-out mechanism and capped at £2.55m, could become payable.

Chirton provides value-added manufacturing and services to businesses operating in offshore oil and gas manufacturing. Based in North Shields, it services an established global customer base, including IHC Merwede, Oceaneering, and Proserv Offshore. Recently it expanded into component manufacturing for high-end motor manufacturers such as McLaren as part of a strategy of collaborative innovation with its core customer base.

The business, which employs 52 people, will sit within Carr's Engineering division. Chirton's management team, including Managing Director Paul Stewart, will remain with the business to drive its continued development and growth.

Commenting on the acquisition Tim Davies, CEO said: "We are thrilled to be acquiring Chirton Engineering. The business and its management team are recognised in their industry and Chirton is renowned for delivering quality product innovation to its customers. The business will contribute to the ongoing development of our innovation programme within our Engineering division and we look forward to welcoming the new team into the Group."

Interim results Mon 14 April

9 Apr Investec 1,900.00 Buy

Interim Results

RNS


RNS Number : 6944E

Carr's Milling Industries PLC

14 April 2014










14 April 2014




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



INTERIM RESULTS



"A positive first half with current trading in line with the Board's expectations for the full year"



Carr's (CRM.L), the Agriculture, Food and Engineering Group, announces results for the six months ended 1 March 2014.



Financial highlights

· Profit before tax up 2.0% to £10.1m (H1 2013: £9.9m)

· Adjusted EPS up 0.6% to 78.1p (H1 2013: 77.6p1)

· First interim dividend up 9.7% to 8.5p (H1 2013: 7.75p)

· Net debt of £25.3m (£22.1m as at 31 August 2013)





Commercial highlights

· The Group has performed well and in line with the Board's expectations due to its geographical and operational diversity

· Kirkcaldy flour mill commissioned on time and within budget providing the expected financial benefits to the Food division

· New production facilities completed and operational at Wälischmiller in Germany

· Continued growth of the Agriculture division, with retail branch expansion together with increased brand and product recognition





Tim Davies, Chief Executive Officer, said:



"The period has clearly demonstrated the strength of the Group with its geographic diversity and operational balance delivering performance in line with our expectations. Throughout, our focus has been to invest for growth across each of our three divisions to deliver our strategic objectives.



I am delighted that our flour mill at Kirkcaldy was commissioned on time and within budget. This strategic investment, in the world's most technologically advanced flour mill, is delivering a step change in the financial performance of the Food division. In Agriculture, our increased brand recognition coupled with the severe winter conditions in the USA have driven the sales of blocks to record levels; however, this has been offset by mild weather conditions in the UK which resulted in a reduction in sales of some products. In Engineering, we have positioned the business so that we can benefit from the uplift in delayed nuclear contracts from Sellafield, which we believe will materialise in the short to medium term. Wälischmiller in Germany is performing well and is benefitting from the significant investment in new operational facilities and equipment, with the factory move now completed.



I have been encouraged by the performance of the business during the first six months, with each division making a solid contribution. The second half of the year has started well and the Board expects to deliver a full year performance in line with its current expectations."

Interim results Tues 15 July

11 Jul Oriel... 2,200.00 Buy

Interim Management Statement

RNS


RNS Number : 2677M

Carr's Milling Industries PLC

15 July 2014






15 July 2014





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



Interim Management Statement





Carr's (CRM.L), the agriculture, food and engineering group, is issuing its interim management statement for the nineteen week period ending 12 July 2014.



The Group's financial position and trading across all of Carr's divisions in the period remains consistent with the Board's expectations for the full year.





Agriculture



We are pleased with the continued progress in the strategic development of this division.



The Group's UK position has been strengthened through the acquisition of Merit (Feeds & Storage) Limited, a compound feed and retail business based in Lancashire, which was completed on 30 April 2014 and has now been consolidated into the Lancaster Mill and the enlarged Brock branch.



The Country store refurbishment programme of the last 12 months has resulted in significant improvements and increased efficiencies. Carr's customers continue to benefit from the vast range of core country store products available.



The growth in sales of the AminoMax® UK product is as a result of a significant uplift in demand from the Group's dairy customers, who realise the benefits of the patent-protected rumen-bypass protein product. This increase in sales supports the Group's ambition of becoming the UK leader in dairy nutrition.



Global demand for Carr's feed blocks continues, with increased recognition of the brands ensuring positive underlying growth and further global opportunities remain under constant evaluation. Following successful trials, our feed block offering has been expanded to include two innovative new products, manufactured in Germany by Crystalyx GmbH, for the pig and poultry industries throughout Europe.





Food



Food safety and hygiene standards remain a primary concern for our customers and investment continues in this division in order to maintain our position at the cutting edge of flour milling efficiency. The new mill at Kirkcaldy has been operational for 10 months and delivering all the planned technological benefits as expected.



This year's UK harvest is expected to be large but the quality remains unknown at this stage. As our three mills are strategically located, with two at port-side locations, we remain well placed to procure the best quality wheat, which enables us to distribute flour to our customers in the most cost effective manner.



Engineering



The new Wälischmiller factory was officially opened on 27 June 2014 and feedback from customers, partners and suppliers has been extremely positive.



Research projects have commenced into the effects of radiation on battery life, as well as advances in motor technology, both of which could be applicable to a range of products manufactured by Wälischmiller. The Demo 2000 development project into the adaptation of the Telbot® for the oil and gas industry, being conducted in conjunction with Shell and Statoil is progressing well in line with our expectations. The long term benefits to Carr's of our investment are clear and will be leveraged by a new state-of-the-art customer facility at Walischmiller.



The contract with BP Shah Deniz for 27 pressure vessels has been expanded further to a value of £8 million, and the forward order book at Bendalls is now full through 2014 and into 2015. Signs of activity in the nuclear sector are encouraging and the division is in a strong position to start capitalising on these in the next financial year.



Chirton Engineering, acquired in April this year, has been successfully integrated into the Engineering division. The full benefits of this acquisition are expected to be realised in the next financial year. The business will be moved to larger premises next year in order to meet the increasing customer demand.



Carrs MSM, the UK-based manipulator business, continues to perform well and ahead of expectations with demand emanating from the Sellafield "life of plant" contract signed in 2012. Under the terms of the contract, MSM supplies parts that are critical for the major operating plants at Sellafield. MSM is also experiencing continued demand for upgrading manipulators at the Heysham II, Hinckley, and Hartlepool power plants.



Financial Position

The Group's financial position remains strong. Net debt at 31 May 2014 was £27.1 million up from £25.3 million at 1 March 2014, the increase being primarily due to the acquisition of Chirton Engineering and ongoing capital expenditure. The renewal of the Group's UK banking facilities has been completed ahead of schedule on improved terms. Committed undrawn facilities at 31 May 2014 totalled £16.4 million.



Tim Davies, Chief Executive, commented: "Our geographic diversity and continued investment has ensured that we are at the forefront of innovation, technology and design. This has resulted in a strong performance across every division during the period. As such, we expect the full year performance to be in line with our existing expectations."



The Group expects to issue its Preliminary Results for the year ending 30 August 2014 on 10 November 2014.

~ END ~

Wednesday tips round-up: Carr's Milling, Dairy Crest

Wed, 16 July 2014

Price: 436.80

Chg: 4.30

Chg %: 0.99%

Date: 15:18



FTSE 250 Quote


Price: 15,595.13 Chg: 154.65 Chg %: 1.00% Date: 15:18

Investors should 'buy' shares of Carr's Milling Industries, according to the Questor column in The Telegraph, which believes that the stock is "overlooked and undervalued".

The paper explained that Carr's Milling is often overlooked by the market given that analysts struggle to put a value on the company, which is an "odd mix" of flour milling facilities, a nuclear robotics engineer and an animal feed business.

Questor said that the firm's third-quarter trading update on Tuesday showed a "strong performance across every division".

What's more, the shares are rated on a "fairly conservative" 13.8 times earnings - the multiple falls to 12.1 times next year - which is why the paper rates the stock as a 'buy'.

Second Interim Dividend

RNS


RNS Number : 7981M

Carr's Milling Industries PLC

21 July 2014




21 July 2014

Carr's Milling Industries PLC ("Carr's" or "the Company")

Second Interim Dividend

Carr's (CRM.L), the agriculture, food and engineering group announces that a second interim dividend of 8.5 pence per share (2013: 7.75 pence per share), an increase of 9.7% will be paid on 10 October 2014 to shareholders on the register 19 September 2014. The ex-dividend date will be 17 September 2014.

END

Ex dividend Wed 17 Sept 8.5p

Final results Mon 10 Nov

Final Results

RNS


RNS Number : 5241W

Carr's Milling Industries PLC

10 November 2014











10 November 2014








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



FULL YEAR RESULTS



"Strategic Diversity Delivering Results"



Carr's (CRM.L), the fully-listed Agriculture, Food and Engineering Group, announces results for the 52 weeks ended 30 August 2014.



Financial highlights (continuing operations)



· Revenue down 8.4% to £429.0m (2013: £468.1m)

· Profit before taxation up 7.8% to £16.6m (2013: £15.4m)

· EBITDA up 9.1% to £20.4m (2013: £18.7m)

· Basic EPS up 3.1% to 127.8p (2013: 123.9p)

· Adjusted EPS up 5.6% to 130.8p (2013: 123.9p)

· Proposed final dividend of 17.0p up 3.0% resulting in a total for the period of 34.0p (2013: 32.0p)

· Capital expenditure of £8.0m during the period with net debt of £24.6m at the period end (2013: £22.1m)



Commercial highlights



· Agriculture profit before tax (including contribution from associate and JVs) up 4.3% to £12.1m, despite revenue down 7.5% to £314.9m



· Food profit before tax up 309.7% to £2.3m despite revenue down 7.5% to £87.1m



· Engineering profit before tax down 11.7% to £3.7m with revenue down 19.6% to £26.9m.



Chris Holmes, Chairman, said:



"We have delivered another record year of pre-tax profit, building on successes of recent years.



In Agriculture, we anticipate the current year will be tough for our UK farming community with pressure on farmgate milk prices expected to remain. However, we believe our diverse offering and broad geographic footprint will help to mitigate some of this impact. In Food, our investment in Kirkcaldy is expected to realise further efficiencies in the current year and, despite some short term pressures expected in our Engineering division, the medium term prospects remain highly positive.



Overall, we have made a good start to the current financial year and the Board will continue to look at how best to maintain growth and achieve optimal returns for our shareholders. We remain confident for the full year and excited about the long-term growth opportunities for the business."

10 Nov Investec 1,900.00 Buy

Carr's Milling Industries: Numis downgrades from 'add' to 'hold' with a target price of 1800p.

Carr's Milling: Investec ups target price from 1900p to 1918p and reiterates a 'buy' recommendation.

Trading statement Tuesday 13 Jan