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Interim Results

Carr's hikes interim divi

11 April 2016 07:19

Carr's revenues fell by 9.4% to GBP189.1m in the six months to 27 February. Profit before tax was down 0.9% at GBP10.5m.

Operating profit, however, rose 0.5% to GBP9.6m and the first interim dividend is up 2.5% at 0.95p per share.

The group said diversity had driven a resilient half year performance despite challenging market conditions with an outstanding performance by the US feed block business.

Chief executive Tim Davies said: "The Group is operating in challenging markets, however our international presence and diversity has provided a robust H1 performance. Trading in the second half is as anticipated and we remain on track to meet the full year expectations of the Board. The UK agricultural market has suffered from the depressed farm gate milk and livestock prices and we expect this to continue through 2016 and 2017, which will directly adversely impact our UK farm customers."

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