REG - Carr's Group PLC - Trading Update

Carr'sAnnouncement

09/10/2024 07:00

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RNS Number : 4198H  Carr's Group PLC  09 October 2024

 

Carr's Group plc

("Carr's", the "Company", or the "Group")

Carr's (CARR.L), the Agriculture and Engineering Group, today announced a
trading update for the year ended 31 August 2024.

Financial Highlights

Trading in the year was broadly in line with Board expectations.

The year closed with net cash of £4.5m (2023: £4.2m).

Strategic highlights

Activity to explore options to maximise shareholder value for the Group's
Engineering Division is proceeding satisfactorily and in line with Board
expectation and a further announcement will be made in due course.

Integration of the businesses comprising the Agriculture Division under a
single management team is complete and an update on a focussed Agriculture
strategy will also be made in due course.

Central cost reductions and non-core property and other asset realisations are
progressing as planned. The Group is also progressing exploration of removal
of risk of future pension scheme volatility.

The audited results for the year ended 31 August 2024 are expected to be
announced in mid-December 2024.

 Enquiries:
 Carr's Group plc                   +44 (0) 1228 554 600
 David White,                       Chief Executive Officer
 Gavin Manson,                      Chief Financial Officer
 FTI Consulting                     +44 (0) 203 727 1340
 Richard Mountain/Ariadna Peretz

About Carr's Group plc:

Carr's is an international leader in manufacturing value added products and
solutions, with market  leading brands and robust market positions in
Agriculture and Engineering, supplying customers around the world. Carr's
operates a business model that empowers operating subsidiaries enabling them
to be competitive, agile, and effective in their individual markets whilst
setting overall standards and goals.

The Agriculture division manufactures and supplies feed blocks, minerals and
boluses containing trace elements and minerals for livestock.

The Engineering division manufactures vessels, precision components and remote
handling systems, and provides specialist engineering services, for the
nuclear, defence and oil & gas industries.

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