| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Wynnstay expects 'significant' annual profit beat
StockMarketWire.com
|
Agricultural supplies group Wynnstay said its expected its underlying pre-tax profit to be 'significantly ahead' of market expectations.
Overall trading since June had been stronger than anticipated, especially in September and October.
'While the anticipated difficulties in arable activities materialised in the second half of the financial year, trading across other activities has been resilient,' the company said.
'As expected, the poor planting conditions in autumn 2019 resulted in a historically low yield from the 2020 UK cereal harvest.'
'Wheat volumes declined by an estimated 40% on the previous year, limiting volumes available for the group's grain trading operation.'
'Seed sales were also lower, with farmers using last year's unplanted product.'
'However, the group has benefited from better-than-expected feed sales in September and October.'
'Sales from the specialist agricultural merchanting depot network also performed well, helped by a stronger red meat sector.'
At 9:49am: (LON:WYN) Wynnstay Group PLC share price was 0p at 315p
Story provided by StockMarketWire.com
|
|
|
|
|
|
