REG - Carr's Group PLC - Trading update and Name change

Carr'sAnnouncement

Tue 07:00

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RNS Number : 3325A  Carr's Group PLC  23 September 2025

 

23 September 2025

Carr's Group plc

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

 

Trading update and Name change

 

Continued progress, with FY performance in line with expectations

New company identity announced to reflect strategic focus

 

 

Carr's Group plc (LSE: CARR), a global leader in sustainable livestock
supplements, is pleased to provide an update on its trading for the year ended
31 August 2025 ("FY25") and the planned renaming of the Group.

 

Trading update

 

The Group delivered strong progress in FY25 and expects to report FY25 revenue
of £78m and adjusted operating profit in line with current market
expectations(1). Revenue grew by c3.5% (c5.6% on a constant currency basis)
with expansion of both gross and operating margins as well as continued
progress in central costs reduction, reflecting progress in each of our two
strategic pillars for existing markets - profitable commercial growth and
operating margin improvement.

 

As expected, given the Group's northern hemisphere exposure, performance was
weighted towards the first half of the year. Progress towards delivery of our
third strategic pillar - entry into new and profitable southern hemisphere
markets, is encouraging with attractive options under active review.

 

Our UK business continued to benefit from the streamlining of commercial and
operational activities, supporting margin improvement and increased commercial
effectiveness, combined with increased sales into the New Zealand market and,
in June 2025, the strategic closure of the Animax manufacturing site with
supply successfully transferred to a third party.

 

Performance in the US was primarily driven by strong volumes in northern
states served by our South Dakota plant, reflecting resilient demand and high
market penetration. Steps to increase market share in the southern states are
beginning to achieve traction with plans in place to continue this process.

 

The Group closed the year with net cash of £3.4m (of which £0.8m disclosed
within 'assets held for sale'). The process to dispose of the Group's
remaining engineering business is continuing.

 

Name change new Group corporate identity

 

Following the completion of the disposal of the vast majority of the Group's
Engineering division in April 2025, the Group has undertaken a process to
identify a new corporate name that reflects its repositioned mission and
strategic focus as a pure-play specialist agriculture business.

 

It is our intention to change the name of the Group to Fevara plc (LSE:FVA) in
October 2025. The name Fevara is derived from the old English word 'feoh',
meaning 'wealth through cattle', and reflects the Group's commitment to the
principles of sustainable livestock farming and supporting farmers to meet
global food security needs.

 

Further announcements will be made in due course.

 

Outlook

 

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.

 

Joshua Hoopes, Chief Executive Officer of Carr's Group plc commented: "I am
delighted to report strong progress during a year of significant change and
successfully redefining our strategy. We are now a focused, pure-play
agriculture business with a clear strategy to deliver sustainable and
profitable growth, creating measurable value for customers, shareholders and
wider society.

 

Our planned change of name better reflects our strategy and mission to support
farmers globally to meet the world's growing food needs. With a strengthened
platform and clear priorities, we are well positioned to capture the
significant global growth opportunities ahead."

(1 )The Board considers current consensus market expectations for the year ended 31 August 2025 to be revenue of £80m and Adjusted Operating Profit of £3.6m as at 22(nd) September 2025. (FY24 Actual: Revenue £75m, Adjusted Operating Profit £2.2m)

For further information, please contact:

Enquiries

 

 Carr's Group plc                         +44 (0) 1228 554 600

 Joshua Hoopes, Chief Executive Officer

 Gavin Manson, Chief Financial Officer

 Hudson Sandler                           +44 (0) 20 7796 4133

 Hattie Dreyfus / Nick Moore

 

About Carr's Group plc:

 

Carr's Group plc is an international, pure-play specialist agriculture
manufacturer and provider of research-proven, value-added livestock
supplements.

 

Carr's Group's mission is to drive sustainable global food security through
enhancements to pasture grazing productivity, enabled by research-based
products that optimise livestock performance and profitability for farmers.
The Group produces nutritional animal supplements including feed licks,
blocks, bagged minerals, and boluses for cattle, sheep, goats and horses. Its
globally recognised brands include SmartLic(®), Crystalyx(®) and
Horslyx(®).

 

Headquartered in Carlisle, Cumbria, Carr's Group has seven manufacturing sites
across the UK, Germany and the USA, and serves customers in more than 20
countries through its expansive global distribution and support network.

 

Carr's Group plc has been listed on the London Stock Exchange since 1972 under
the ticker "CARR".

 

For more information, visit: https://www.carrsgroup.com/
(https://www.carrsgroup.com/)

 

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