Carr’s optimistic after strong third quarter
CARR’S Milling Industries, the Carlisle-based agricultural and engineering firm, expects to beat last year’s profits after enjoying a strong third quarter.
The business has a range of interests from engineering to animal feed and fuel oils.
In an interim management statement covering the first 19 weeks of the second half Carr’s said agriculture and engineering had performed well.
Engineering has two arms – Wälischmiller Engineering in Germany, which makes machinery for the nuclear industry, and steel fabrication business Bendalls. Both are handling major contracts and Wälischmiller’s has an order book that will take it through to late 2013.
Its food division, which supplies cereals-based food to bakers and food manufacturers, had a harder time with market over-capacity squeezing margins.
During the period Carr’s completed the £1.7m acquisition of Carlisle-based Safe at Work, which supplies protective clothing to the forestry and agricultural markets, and the £19m disposal of Carrs Fertilisers to Origin Fertilisers.
In the six months to February 26 pre-tax profits grew by 49% to £7.9m on sales of £204.7m, up 27%.
