22 June 2011 – interim results

The results for the six months to 30 April were a record. helped by increased volumes in all major activities.  Revenues rose to £165m (2010: £120m) with pre-tax profits increasing by 12% to £4.0m (2010: £3.6m) whilst earnings per share rose slightly to 17.9p (2010: 17.7p).  The interim dividend was raised to 2.6p (2010: 2.4p).  These were excellent results given the challenging trading conditions and the group’s wide range of activities in the agricultural sector has continued to be a strength.  The specialist retailing activities continue to do well with the roll-out of the Just for Pets outlets continuing with 3 new stores opened during the period.   A confident statement bodes well and the shares remain a LONG TERM BUY.