Pre-tax profits up at Wynnstay Group

Operating profits rose by 8% and pre tax profit by 12% to £3.55m at farm supplier and country stores retailer Wynnstay Group in the six months to 30 April.

Overall revenue was up 2% to £120.34m with robust performance in the agricultural supply side of the business contributing £87.65m of this on the back of increased feed trade volumes and a recovery in fertiliser demand.

The group’s improved interim results also included an increasing contribution from its two specialist retail chains supplying country and pet products.

Net assets rose by 10% to £42m and will be higher again since Wynnstay’s purchase of Woodheads Seeds in May.

The group, which runs 44 outlets across the West Midlands, Wales and the north of England, will be paying an interim dividend of 2.4p a share, a 9% increase on last year.