Increased volumes brings growth and record results for farming business

Wynnstay Group, the agricultural and specialist retail business headquartered in Llansantffraid, has released half year trading figures which reveal record levels of growth.

Founded in 1918 by tenant farmers – and with the majority of shares still owned by local farmers – the Group has announced a 37% rise in revenues for the six months to 30 April 2011 to 164.5m and a 12% increase in pre-tax profits to 3.9m.

Increased volumes across all of the Groups major agricultural activities have played a significant role in the companys growth, with results also boosted by acquisitions. Seed volumes in particular have increased, thanks to the contribution from Woodheads Seeds, the seed processing business Wynnstay acquired last year.

Commenting on the results, Ken Greetham, Chief Executive, said.

The Groups performance is very pleasing, with the agricultural division producing particularly good volume growth against an industry backdrop of inflation in raw price materials. Our results are underpinned by the Groups diverse range of activities within the agriculture industry, with acquisitions helping to accelerate growth.

Wynnstays agricultural division was further strengthened last month with the acquisition of Wrekin Grain, a leading independent grain marketing and agricultural inputs supplier. The combination of Wrekin Grain with Wynnstays own grain marketing activities give the Group a national presence in this sector.

Within Wynnstays specialist retail operations, country outlets chain Wynnstay Stores continues to perform strongly, while the pet store chain Just for Pets added a further 3 branches to bring the total number of outlets to 19.

The outlook for the agricultural industry remains positive, said Mr Greetham. World demand for arable products has led to high prices for cereals, which give good returns for arable farmers and we expect our feeds business, supplying all types of animal feed to remain buoyant.

The Groups growth prospects are very good, he added, and the UK agricultural industry as a whole is supported by long-term global macro-economic trends.

• The Wynnstay Group, which is based in Llansantffraid, Wales, manufactures and supplies agricultural products and services for farmers throughout Wales and the UK.
• The Group has 47 outlets across the West Midlands, Wales, and the North West of England, including 28 Wynnstay Stores, and 19 Just For Pet Stores.
• Wynnstay Stores carry a portfolio of products, catering for the needs of farmers, pet owners, horse owners and rural dwellers.
• For more information, visit the Wynnstay website at: www.wynnstay.co.uk