Trading subdued for Wynnstay group
Agricultural and retail group Wynnstay's annual general meeting this morning will hear that trading in the first four months of its current financial year has been subdued.
The group, which is based in Llansantffraid and has a major operation at Shrewsbury, says this reflecs the downturn across the agricultural sector but is broadly in line with management expectations.
Wynnstay says there are important trading months ahead and its broad spread of activities continues to provide resilience against current headwinds.
In the agricultural division, demand for dairy feed was reduced over the mild winter period however poultry, beef and sheep feed sales remain buoyant, in line with previous years.
Demand for arable products has gained momentum over recent weeks after a slow start and is up to the levels of the prior period, with Wynnstay also well placed for the anticipated spot trade.
Grain trading volumes have increased over the equivalent period last year although, as expected, margins remain under pressure. The Glasson business continues to make a good contribution to the group although is not budgeted to repeat last year's strong performance.
Within the specialist retail division, trading at Wynnstay Stores has improved after a slower start and an active trading period is anticipated as livestock are turned out in the spring.
The integration of Agricentre, acquired at the end of October, is progressing well.
Like-for-like sales at Just for Pets, the pet supplies chain, were slightly behind the prior year but the roll-out programme is progressing well, with new Just for Pets sites identified.