REG - Wynnstay Group PLC - Trading Update

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RNS Number : 6378J  Wynnstay Group PLC  01 December 2025

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 expectations(1) with adjusted(2) 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.

 

Stores

Like-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/
(https://protect.checkpoint.com/v2/r02/___https:/www.wynnstayplc.co.uk/___.YXAxZTpzaG9yZWNhcDpjOm86ZWM5ZTM5YTQxZWJiZGI1MWQxNmEyODZlMjk1ZjA3Y2M6NzpmM2M2OjRiMDRkZWJkMDNmMmYyMGYwMjM1MWI2ZDdhYTAyYTUxMmMxY2U4MDhmOTMzY2JlNmRmNDY5ZmVlOTUyODBlMjg6cDpGOk4)
, or contact:

 Wynnstay Group plc:

 Alk Brand, Chief Executive Officer               Via Tavistock

 Rob Thomas, Chief Financial Officer

 Financial and Corporate communications:

 Tavistock                                        wynnstay@tavistock.co.uk

 Nick Dibden, Katie Hopkins, Grace Cooper         +44 (0) 207 920 3150

 Nomad and Broker:

 Shore Capital                                    +44 (0) 20 7408 4090

 Stephane Auton/Tom Knibbs (Corporate Advisory)

 Henry Willcocks (Corporate Broking)

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.

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