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Carr's profit falls in H1, but sees improving performance as pandemic impact eases
StockMarketWire.com
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Agriculture and Engineering company Carr's reported a decline in profit in the first half of the year, but said there was reason for optimism amid the easing pandemic impact.
For the 26 weeks ended 27 February 2021, pre-tax profit fell 3% to £10.2 million, while revenue increased 0.7% to £201.4 million.
The company declared an interim dividend of 1.175 pence.
Looking ahead, the company forecast improved performance, particularly for its engineering business, which was adversely impacted by low oil prices and travel restrictions in half.
The engineering division is expected to be significantly better in H2, and the order book now stood at £44 million, up 19% since year end.
'A continued positive performance is forecast across the Agricultural divisions together with an improved second half in the Engineering division as the impact of COVID-19 begins to recede and its order intake continues to increase,' the company said.
'Trading since 27 February 2021 has been positive and the board's expectations for the current financial year remain unchanged,' it added.
At 9:36am: (LON:CARR) Carrs Group Plc share price was 0p at 118p
Story provided by StockMarketWire.com
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