Results today12 Dec 2024 10:43
Todays results not as bad as expected.
" Carr's Group PLC, up 3.0% at 119.50 pence, 12-month range 92.00p-150.00p. The agriculture and engineering firm reports stronger annual revenue but a wider loss. Its pretax loss in the financial year that ended August 31 stretches to GBP6.5 million from GBP772,000. Hurting its bottom line, Carr's books GBP2.1 million worth of restructuring and closure costs, more than trebling from GBP607,000. Pension past service costs total GBP2.9 million, against none the year prior. In addition, a property, plant and equipment and right-of-use assets impairment of GBP2.0 million is booked, against none the year prior. Revenue, meanwhile, rises 2.7% to GBP148.0 million from GBP144.1 million. Its adjusted pretax profit is up 14% to GBP8.5 million from GBP7.5 million. "The immediate prospects for the Agriculture Division have been enhanced by the arrival of a new leadership team and remedial actions taken on under-performing businesses during FY24. The long-term outlook for the division remains attractive with our focus now on our range of existing products, further development of that portfolio and entrance into new geographies. Any benefit from reduced drought areas and the US beef cycle turning will further complement these opportunities," Carr's adds "