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Wynnstay says trading in line was farmer sentiment improves
StockMarketWire.com
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Agricultural supplies group Wynnstay said trading in the first four months of its financial year through October had been in line with its expectations.
Chairman Jim McCarthy said that farmer sentiment had continued to improve, buoyed by higher farmgate prices.
In AGM speech notes, he said sentiment also was boosted by greater clarity over the future direction of UK farming, following a trade agreement with the European Union.
'Feed sales and sales in the specialist agricultural merchanting division in the period were ahead of last year but, as expected, arable sales were down on the same period,' McCarthy said.
'This principally reflected lower winter cereal seed volumes, as farmers utilised the large quantities of unsown seed still on farm after last year's exceptionally poor winter planting season, and reduced grain trading volumes, after a historically low harvest.'
'As an essential service provider, we continue to maintain full operations, and I would like to thank all colleagues for their hard work as we provide our full support to customers.'
'With the vaccine programme rolling out, we look forward to a return to more normal trading conditions.'
"The last two months of the first half are important trading months in the seasonal calendar, and we believe that Wynnstay remains well-positioned.'
At 9:05am: (LON:WYN) Wynnstay Group PLC share price was 0p at 315p
Story provided by StockMarketWire.com
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