REG - Wynnstay Group PLC - AGM Update

WynnstayAnnouncement

27/03/2025 07:15

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RNS Number : 3911C  Wynnstay Group PLC  27 March 2025

AIM: WYN

 

Wynnstay Group plc

("Wynnstay" or "the Group")

Agricultural supplies and services group

 

AGM Statement

 

Wynnstay, the agricultural supplies and services group, will be holding its
Annual General Meeting today and Steve Ellwood, Chairman, will make the
following statement on current trading.

 

"Group trading over the first four months of the financial year has been in
line with the Board's expectations and is slightly ahead of the same period
last year.

 

"Farmgate prices are trending more favourably across most categories, which
has helped farmer sentiment. This should also partially offset a loss of
confidence by farmers in the ongoing level of governmental financial support
as the industry continues to transition away from European Union era schemes.

 

"Of the Group's three main areas of operation, being Feed and Grain,
Fertiliser and Seed, and Depot Merchanting, Fertiliser and Seed sales
performed well, and Depot Merchanting has benefitted from improved margins and
strong footfall. Feed volumes are lower than the comparable period last year,
reflecting reduced poultry volumes following the cessation of production from
the Twyford mill, and margins have been pressured. Grain trading has been in
line with budget, although in a softer market.

 

"The opening of the Group's advanced new fertiliser blending plant in the Port
of Avonmouth, Bristol is on track. We expect to commission the plant in early
April and start shipping product later that month.

 

"Project Genesis, the Group's three-year operational transformation programme
launched in February, is progressing well. It is in its design and initial
implementation phase, but is nonetheless expected to deliver some early
benefits this current financial year, as previously reported.

 

"There are busy months ahead as the farming calendar moves into Spring and the
Board's expectations for the full year remain unchanged. Wynnstay's very
strong balance sheet and good cash flows provide a strong underpinning, which
supports the Group's ongoing development and prospects."

 

Enquiries:

 

 Wynnstay Group plc                Alk Brand, Chief Executive Officer    T: 01691 827 142

                                   Rob Thomas, Chief Financial Officer

 Shore Capital (Nomad and Broker)  Stephane Auton / Tom Knibbs           T: 020 7408 4090

                                   Henry Willcocks (Corporate Broking)

 KTZ Communications                Katie Tzouliadis / Robert Morton      T: 020 3178 6378

 

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