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Carr's FY revenue, operating profits seen higher
(Sharecast News) - Livestock supplements business Carr's Group said on Tuesday that it had delivered strong progress in the year ended 31 August and that it now expects to report FY25 revenues of £78m and adjusted operating profits of roughly £3.6m. Carr's, which was set to rebrand as Fevara in October, flagged strong progress across its core agriculture business, supported by margin expansion and cost reductions. UK operations benefited from streamlined commercial activity and increased sales into New Zealand, while its US performance was driven by resilient demand in northern states.
Revenues were seen up 4% on the prior year, or 5.6% on a constant currency basis, while adjusted operating profits were seen 64% higher.
Carr's also noted that its exit from engineering was progressing, with the bulk of the division already being divested in April.
"As we move into our peak seasonal trading period, all markets are trading in line with management expectations. We continue to actively investigate opportunities for selective entry into the expanding southern hemisphere markets and remain encouraged by the opportunities available," added Carr's.
As of 0810 BST, Carr's shares were untraded at 149.00p
Reporting by Iain Gilbert at Sharecast.com
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