AGM Statement

RNS Number : 6013I

Wynnstay Group PLC

16 March 2010

 



WYN

16 March 2010

WYNNSTAY GROUP PLC

("Wynnstay" or "the Group")

AGM Statement

Wynnstay, the agricultural and retail group, will be holding its Annual General Meeting this morning and in his address to shareholders, Chief Executive, Ken Greetham, will make the following comments on trading,

"Wynnstay performed very well in the financial year to 31 October 2009 against a tougher trading backdrop. The Group's performance was underpinned by the breadth of its agricultural activities, spanning feed supply and arable inputs as well as continuing strong growth within our specialist retailing activities.    

The Group's trading in the first four months of the current financial year has been encouraging.  Within our agricultural supplies business, the animal feeds division has seen volumes recover to more normalised levels as poultry feed demand continues to grow.  In the arable division, fertiliser sales have started well, with increased demand as we approach the spring period.  Seed sales overall have been very good although, as anticipated, they are not expected to match last year's record level. 

Our specialist retailing businesses, Wynnstay Country Stores and Just for Pets, continue to perform well. Wynnstay Country Stores enjoys a high degree of predictable income from its farmer customer base and we are continuing to upgrade the store network. Sales at our Just for Pets chain continue to grow and we are about to open our 16th store, at Bentley Bridge in Wolverhampton. The scope to expand the chain further remains very good and we will be adding further new stores during 2010.      

Prospects for Wynnstay remain very encouraging and we look forward to updating shareholders on progress in due course." 

Enquiries:

Wynnstay Group plc		Ken Greetham, Chief Executive		T: 01691 828512
		Paul Roberts, Finance Director
Biddicks		Katie Tzouliadis		T: 020 7448 1000
WH Ireland Limited		Robin Gwyn		T: 0161 832 2174
(NOMAD)
WH Ireland Limited		Stuart Forshaw		T: 0161 832 2174
(Joint broker)		Nicola Rayner		T: 0121 265 6330
Shore Capital		Guy Peters		T: 020 7408 4090
(Joint broker)

 

END

 

 

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