Wynnstay Group PLC AGM Statement (0921T)
23 Marzo 2021 - 1:00AM
UK Regulatory
TIDMWYN
RNS Number : 0921T
Wynnstay Group PLC
23 March 2021
23 March 2021
AIM: WYN
Wynnstay Group plc
("Wynnstay" or "the Group")
AGM Statement
Wynnstay, the agricultural supplies group, will be holding its
Annual General Meeting this morning and Chairman, Jim McCarthy,
will make the following comment on current trading:
"Trading in the first four months of the new financial year
ending 31 October 2021 has been in line with management
expectations. Farmer sentiment has continued to improve, buoyed by
higher farmgate prices and greater clarity over the future
direction of UK farming, following the Trade Agreement with the
European Union and the passage into law of the Agriculture
Bill.
"Feed sales and sales in the Specialist Agricultural Merchanting
division in the period were ahead of last year but, as expected,
arable sales were down on the same period. This principally
reflected lower winter cereal seed volumes, as farmers utilised the
large quantities of unsown seed still on farm after last year's
exceptionally poor winter planting season, and reduced grain
trading volumes, after a historically low harvest.
"We are pleased to have expanded the Group's presence in the
east of the UK with the two complementary, bolt-on acquisitions, as
previously reported. They have added new customers and increased
Wynnstay's manufacturing capacity in blended-fertiliser.
"As an essential service provider, we continue to maintain full
operations, and I would like to thank all colleagues for their hard
work as we provide our full support to customers. With the vaccine
programme rolling out, we look forward to a return to more normal
trading conditions.
"The last two months of the first half are important trading
months in the seasonal calendar, and we believe that Wynnstay
remains well-positioned.
Final Dividend
"The Board confirms that the proposed final dividend for the
financial year ended 31 October 2020 is 10.00p per share, and will
be paid on the 30 April 2021 to shareholders on the register as at
6 April 2021. This payment takes the total for the financial year
to 14.60p, a 4.3% rise year-on-year.
The Board
"As previously announced, I will be stepping down today from the
role of Chairman after eight years, to be succeeded by Steve
Ellwood. Before I retire from the Group, I will remain on the Board
as a Non-executive Director until 31 July 2021 in order to ensure a
smooth transition. I am delighted to be handing over to Steve, who
is highly experienced and well-respected, and I wish him and all my
colleagues every success as Wynnstay continues to grow and
develop.
"The recruitment process for an additional non-executive
director is under way, and a further announcement will be made in
due course."
Enquiries:
Wynnstay Group plc Gareth Davies, Chief T: 020 3178 6378
Executive (today)
Paul Roberts, Finance T: 01691 827 142
Director
KTZ Communications Katie Tzouliadis, Dan T: 020 3178 6378
Mahoney
Shore Capital (Nomad) Stephane Auton, Patrick T: 020 7408 4090
Castle,
John More
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END
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