Wynnstay FY 2009 Results

AIM-listed agricultural supplies to pet store group Wynnstay say pre-tax profit for 2009 was GBP5.2m, the same as the year before, with revenues down to GBP215m from the previous year’s GBP234.6m.

That's a very respectable performance given that 2008 was a pretty exceptional year for most players in the market.

Operating profit was GBP5.5 million, with agricultural supplies accounted for GBP2.5m (2008: GBP3.9m) of this result and the retail businesses for GBP3.0m (2008: GBP2.5m).

The Group’s balance sheet remains strong, it said, with net assets at 31 October 2009 increasing to GBP39.5m (2008: GBP36.3m).

Chief executive Ken Greetham said: “Overall, the business performed strongly in a trading environment significantly tougher than the last financial year, in which the group benefited from substantial one-off inventory gains as a result of rising raw material prices."