Carr’s Milling Industries – 1050p

8 January 2013 – interim management statement

Carr’s has continued to perform well with trading remaining strong in Agriculture and Engineering. Trading in Food has been tougher with the flour mills trading against a backdrop of the lowest quality UK wheat harvest since records began, however, sales volumes and margins remain inline with annual expectations. Net debt has risen to £16.5m, due to seasonal working capital expenditure, seasonal rises in working capital and the rise in raw material costs. The shares have had a good run and we retain positive position. BUY 

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