19 July 2021 - trading update

The agricultural and engineering group has announced a trading update for the 20 week period ended 17 July.. In the Agriculture Division, the speciality business performed strongly helped by buoyant livestock prices and a recovery in the animal health business, whilst the agriculture supplies operation performed slightly better than expectations with strong machinery revenues.  The Engineering Division saw a significant improvement in performance helped by contract wins, a reduction in overheads and a recovery in oil and gas prices.  This is an encouraging statement and we therefore maintain our recommendation of BUY

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