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Carr's annual profit falls by less than expected as revenue slips 2%
StockMarketWire.com
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Agriculture and engineering group Carr's reported annual profit that fell by nearly a quarter, but exceeded management's expectations, amid the ongoing impact from the pandemic.
For the year ended 29 August 2020, pre-tax profit fell 23.4% to £12.5 million year-on-year as revenue slipped 2% £395.6m.
Performance in its agriculture division was slower in the first half of this year than the prior year, though the division saw 'improved trading during the second half,' the company said.
Revenue in its agriculture division fell 4.1% to £342.6m.
The company declared an unchanged dividend of 4.75p a share.
Full year profitability was 'slightly ahead of the board's revised expectations, the company said.
'Trading in the new financial year has started in line with the board's expectations,' it added.
At 9:58am: (LON:CARR) Carrs Group Plc share price was 0p at 118p
Story provided by StockMarketWire.com
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