Carr's Group - Initial look at FY22 performance
Carr’s Group has issued a detailed trading update giving some preliminary financial metrics on FY22 performance. These show both continuing divisions (Speciality Agriculture and Engineering) beating our EBIT estimates, following a strong finish to the year. The shares remain suspended until management finishes the final stages of the audit process, which it believes are ‘essentially complete’. Our note is based on the initial information in the trading update. We will publish a follow-on update once the full results are announced.Carr's Group operates across the agriculture and engineering sectors which supplies products and services to countries around the world. Co.'s agriculture division includes an international feed block supplement business, and in the U.K., this division also sells animal feed, fertilizer, animal health products, fuel, farm machinery and rural supplies. Co.'s engineering division designs, manufactures and supplies precision parts, equipment, robotics and remote handling products. These products and services are supplied primarily into the nuclear, defense and oil and gas markets.
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