Agriculture firm has seen an improvement in trading

Farming firm

Agriculture and Engineering Carr’s said it is trading slightly ahead of expectations and significantly ahead of last year.

The Carlisle firm said in a trading update its agriculture division continues to perform well across all areas reflecting improved farm incomes and ongoing confidence over the near term.
Feed volumes, retail sales, machinery sales and fuel sales are all ahead of the previous year.

 

Pearson Farm Supplies, which was acquired in October last year, has been integrated into the wider Carr’s Billington Agriculture business delivering sales growth and excellent levels of customer service.

Feed block volumes in the UK remain on track. In the USA, feed block volumes are significantly ahead of the prior year as the cattle market continues to recover.
The strong recovery in the UK manufacturing business continues and order books remain strong.

Chief executive Tim Davies said: “We are pleased to announce a strong performance during the period, across both our agriculture and engineering divisions.

“We have seen continued improvement in UK Agriculture, reflecting improved farm incomes and farmer confidence, and strong feed block sales, both in the UK and internationally.

“The performance of our engineering division continues to improve, with recent acquisitions integrating well and further orders continuing to add strength to the order book.

“Trading during the year has continued to improve and we now anticipate that trading for the full year will be slightly ahead of our previous expectations. We remain confident that our investments in acquisitions and research, alongside our international footprint, leave us well positioned for sustained growth.”

The Company expects to issue its preliminary results for the year ending 1 September 2018 on 12 November 2018.

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