Wynnstay Group PLC - Powys, Wales-based agricultural supplies and specialist merchanting firm - Updates on trading at Thursday’s annual general meeting. Says trading over the first four months of the financial year has been in line with the board’s expectations and is slightly ahead of the same period last year. Farmgate prices are trending more favourably across most categories, which has helped farmer sentiment. This should also partially offset a loss of confidence by farmers in the ongoing level of governmental financial support as the industry continues to transition away from European Union era schemes.

Says fertiliser and seed sales performed well, and Depot Merchanting has benefitted from improved margins and strong footfall. Feed volumes are lower than the comparable period last year, reflecting reduced poultry volumes following the cessation of production from the Twyford mill, and margins have been pressured. Grain trading has been in line with budget, although in a softer market.

‘There are busy months ahead as the farming calendar moves into Spring and the board’s expectations for the full year remain unchanged. Wynnstay’s very strong balance sheet and good cash flows provide a strong underpinning, which supports the Group’s ongoing development and prospects,’ company adds.

Current stock price: 306.95 pence, up 2.3% in London on Thursday

12-month change: down 16%

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