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Last checked at 
17 Mar 2009 07:00
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WYN
17 March 2009
WYNNSTAY GROUP PLC
("Wynnstay" or "the Group")
AGM Statement
Wynnstay, the agricultural and retail group, will be holding its Annual General Meeting this morning.Β Chief Executive, Ken Greetham,Β will make the following comments on tradingΒ in his address to shareholders,
"WynnstayΒ deliveredΒ anΒ exceptionally strongΒ performanceΒ in theΒ last financial yearΒ to 31 October 2008. Trading resultsΒ benefitedΒ fromΒ anΒ out-performanceΒ from the Group's raw materials trading activity as raw material prices rose sharply andΒ improved conditions for farmers, withΒ more realistic pricesΒ for farm produce.
The Group's trading in the first four months of the current financial yearΒ isΒ broadly inΒ line withΒ ourΒ expectations.Β Within our agricultural supplies business,Β the animal feeds divisionΒ hasΒ seen reducedΒ feedΒ volumesΒ from the dairy sectorΒ butΒ sheep and poultryΒ volumesΒ have beenΒ particularly encouraging.Β In the arable division,Β high prices for fertilizer have affected early orders. However we anticipateΒ someΒ recovery inΒ volumes during the course of the season. Seed sales have been excellent, benefitingΒ fromΒ higher SpringΒ demand.
Our specialist retailing businesses continue to perform well.Β Our Country StoresΒ offering is geared towards the farming community and there is a high degree of predictability and robustness in farmers' spending patterns.Β TradingΒ at our pet products retailing operation,Β Just for Pets, remains strong. We have recently opened a new Just for Pets store in Long Eaton, nearΒ Derby, andΒ aimΒ to openΒ two furtherΒ storesΒ during the course of the year.
The general outlook forΒ theΒ UKΒ agriculturalΒ industry remains positive as worldΒ demand for agricultural produceΒ continues toΒ improve. More specifically,Β in the short term,Β the weakened pound has strengthened export demand. Against this background, Wynnstay is well placed to supply a more buoyant industry. We therefore continue to view prospectsΒ for the businessΒ positively."
Enquiries:
Wynnstay Group plc Ken Greetham, Chief Executive T: 01691 828512
Paul Roberts, Finance Director
Biddicks Katie Tzouliadis T: 020 7448 1000
WH Ireland Limited David Youngman T: 0161 832 2174
(NOMAD)
Shore Capital Guy Peters T: 020 7408 4090
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