Carrs Milling Industries FY Results
Carr's Milling Industries PLC have reported a sharp rise in profits for its financial year ended Aug 30th 2008.
Revenue for the period rose 47% to £372 million from £253 million a year earlier, whilst pre-tax profit was up 133% to £12.9 million.
Net profit attributable to shareholders rose to £7.7 million from £4.2 million.
The company said operating profit at its agriculture division more than doubled due to unprecedented increases in commodity prices during the period, but warned that this was most unlikely to be repeated in FY 2009.
Agriculture increased its operating profit by 128% to £11.7m on revenue up 48% at £275.8m. Food increased its operating profit by 77% to £2m on revenue up 50% to £85.6m as wheat prices rose sharply, while engineering increased its operating profit by 7% to £1.1m.
Carr's raised its final dividend 26% to 17 pence from 13.5 pence. In mid-morning trade shares were up around 5% at 519 pence.
Revenue for the period rose 47% to £372 million from £253 million a year earlier, whilst pre-tax profit was up 133% to £12.9 million.
Net profit attributable to shareholders rose to £7.7 million from £4.2 million.
The company said operating profit at its agriculture division more than doubled due to unprecedented increases in commodity prices during the period, but warned that this was most unlikely to be repeated in FY 2009.
Agriculture increased its operating profit by 128% to £11.7m on revenue up 48% at £275.8m. Food increased its operating profit by 77% to £2m on revenue up 50% to £85.6m as wheat prices rose sharply, while engineering increased its operating profit by 7% to £1.1m.
Carr's raised its final dividend 26% to 17 pence from 13.5 pence. In mid-morning trade shares were up around 5% at 519 pence.
