Carr's Group - Serving defensive markets
Both of Carr’s Group’s divisions have continued to operate throughout the coronavirus lockdowns as they serve key markets. While adjusted PBT was 17% lower year-on-year during FY20 because of an unseasonably mild winter in the UK and delays in engineering contracts, a pick-up in US cattle prices at the year-end helped deliver a full-year result ahead of our estimates, which were revised down in March.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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