Wynnstay Regulatory News (WYN)

1 December 2025

Wynnstay Group plc

("Wynnstay" or "the Group" or "the Company")

Trading update for the year ended 31 October 2025

Project Genesis driving strong performance ahead of market expectations

Wynnstay Group plc, the agricultural supplies group, today issues its trading update for the year ended 31 October 2025.

The Board expects underlying trading results for the year to be modestly ahead of current market expectations1 with adjusted2 profit before tax of approximately £9.0m.

The performance reflects the early, tangible benefits of Project Genesis, which is sharpening commercial focus, improving pricing discipline, strengthening margins and driving operational efficiencies across the Group. Importantly, the behavioural changes implemented this year are embedding a more disciplined operating model and establishing a stronger platform for further growth in FY26 and beyond.

Feed & Grain

Feed & Grain delivered higher year-on-year profitability. Feed volumes were lower, reflecting lower poultry volumes as outlined in the interim results, but stronger margins and firm cost control supported improved results. Additional cost savings followed the planned closure of the Twyford mill. The Carmarthen expansion, adding 20,000 tonnes of capacity, is largely complete and positions Feed well for FY26. Grain trading was affected by a weaker wheat harvest and continued low wheat prices, which constrained volumes and margins. Operational discipline remained strong, and the integration of all trading activities into the unified GrainLink model was completed on schedule.

Arable

Arable profits increased year-on-year. Blended fertiliser sales under the Glasson Fertilisers brand were significantly higher, supported by the successful opening of the new Avonmouth blending facility. Pricing discipline and strategic purchasing decisions further strengthened margins. Seed sales benefited from a strong autumn grass season. Net margins across the segment improved, reflecting disciplined commercial execution and tight cost control.

StoresLike-for-like retail sales were broadly unchanged. Pricing control offset cost inflation, and operating costs were managed tightly, resulting in improved net margins.

Balance sheet

The Group generated good operating cash flow through the year and ended with net cash (pre IFRS 16 leases) of £26.4m (2024: £32.8m), providing investment capacity for the next phase of Project Genesis.

Non-recurring items

The design phase of Project Genesis is now complete, as is the Group-wide asset review we set out in our interim results. Integration activities have been implemented, including consolidation of trading operations under the GrainLink banner and completion of the integrations of Youngs Animal Feeds and Glasson Grain's specialist feed manufacturing. As a result of the asset review, manufacturing and warehousing operations at Glasson Dock (Lancaster) and Standon Mill (Staffordshire) have closed. These actions streamline the operating model and create a more efficient cost base.

As previously outlined in the interim results, these activities have given rise to associated non-recurring costs. These costs are expected to be in the range of £5.4m-£5.9m, subject to the audit, with a net cash cost of £2.0m-£2.5m after asset and working capital realisations. The final cost will be confirmed on completion of the remaining closure formalities. No further material restructuring charges are expected in FY26.

The HSE investigation that opened following a tragic fatality in January 2025 remains ongoing. As reported in the Group's interim results, we continue to assist all relevant authorities with their inquiries. We will provide a further update, as appropriate.

Outlook

Early trading in the new financial year is in line with the Board's expectations. The Group remains focused on disciplined execution of Project Genesis and delivery of targeted margin, cost and efficiency gains.

Audited results for the year ended 31 October 2025 will be released on Monday, 9 February 2026.

Alk Brand, Wynnstay CEO, commented: "The Group has delivered a strong performance for the year with tangible benefits of Project Genesis already materialising. This provides a strong platform for us to continue to invest in the business, supporting our long-term growth ambitions and we look forward to providing a further update on this at the time of our Full Year results."

1 Consensus for adjusted profit before tax of £8.5m (source: Factset)

2 Adjusted profit before taxation excludes amortisation of acquired intangibles, share-based payment expenses, gains or losses on mark to market of derivatives, non-recurring items and the share of tax incurred by joint ventures.

For more information on Wynnstay please visit https://www.wynnstayplc.co.uk/, or contact:

About Wynnstay Group plc

Wynnstay Group plc supports livestock and arable farmers to produce food in a more sustainable, environmentally friendly and profitable way. They provide customers with high quality products, specialist advice and an efficient service that is industry leading.

The business is built on the foundation of offering customers the highest standard of customer service and specialist advice, to ensure they can achieve the best return on investment for their enterprise.