Carrs Milling Shares Drop 11 Percent
Shares in Carr's Milling Industries are more than 11% lower at 400 pence in early trade Monday after the company warned that pre-tax profit for the full year will be lower than last year as it announced half-year figures.
"For the 52 weeks to 29 August 2009, the board expects the pre-tax profit to be appreciably lower than last year's underlying figure, reflecting mainly the weakness in fertiliser but also the impact of the increased retirement benefit charge," said the group.
Anyone who knows anything about agriculture will know that matching 2008's performance is going to be highly unlikely in 2009 for any agri-business.
"For the 52 weeks to 29 August 2009, the board expects the pre-tax profit to be appreciably lower than last year's underlying figure, reflecting mainly the weakness in fertiliser but also the impact of the increased retirement benefit charge," said the group.
Anyone who knows anything about agriculture will know that matching 2008's performance is going to be highly unlikely in 2009 for any agri-business.
