Wynnstay Group PLC AGM Statement (9974Z)
March 21 2017 - 3:00AM
UK Regulatory
TIDMWYN
RNS Number : 9974Z
Wynnstay Group PLC
21 March 2017
21 March 2017
AIM: WYN
Wynnstay Group plc
("Wynnstay" or the "Group")
AGM Statement
Wynnstay, the agricultural and retail group, will be holding its
Annual General Meeting this morning and will make the following
comment on current trading:
The trading environment for farmers has continued to show signs
of recovery, with farm output prices higher year-on-year, although
from low comparatives. This is encouraging although, as yet, it is
too early to determine the strength of the recovery. There are
important seasonal trading months ahead for Wynnstay, particularly
for feed sales and these will influence the outcome for the half
year. Nonetheless, at this stage, we continue to remain encouraged
that Wynnstay is on track to return to growth in the current
financial year.
In the Agricultural division, demand for ruminant feed has
increased year-on-year, reflecting national trends. Fertiliser
sales have been good as farmers purchased ahead of anticipated
price increases. Demand for spring seed is also encouraging and, as
expected, the smaller 2016 harvest has meant that grain trading
volumes in the period are behind the previous year.
Within the Specialist Retail operations, our agricultural retail
activities have seen a small increase in like-for-like sales over
recent months, mainly attributable to hardware products. However,
demand at Just for Pets, the pet products business, remains
subdued, reflecting the challenging high street.
We are continuing to invest in the business, including in our
technology platform, to drive efficiencies and better position the
Group for long term growth.
Enquiries:
Wynnstay Group Ken Greetham, Chief T: 01691 827
plc Executive 142
Paul Roberts, Finance
Director
KTZ Communications Katie Tzouliadis, T: 020 3178 6378
Emma Pearson
Shore Capital Stephane Auton, T: 020 7408 4090
(Nomad and Broker) Patrick Castle
This information is provided by RNS
The company news service from the London Stock Exchange
END
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