Carr's Group (CARR LN, BUY, T/P 185p) - Troublesome Year Delivers In Line Results - Sales Rise 9.9%
Carr's Group (CARR LN, BUY, T/P 185p) reported a 9.9% revenue increase to £346.2m in the year to 2nd September 2017, which was ahead of Bloomberg expectations of a £333m outcome and our own £335m estimate. However, profitability was severely hampered by both US agriculture and a well flagged engineering contract delay. That said, the current year has started well and full year dividends are proposed to increase by 5.0% to 4.0p.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.
Whitman Howard is an independent institutional stockbroking and investment banking business focused on servicing the needs of our corporate clients and institutional investor base.
The company began trading in 2011 with a team of highly experienced market professionals and the goal of building a leading capital markets business in an entrepreneurial environment.
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