20/01/09
The Wynnstay Group has today announced strong financial results for the year ended 31 October 2008.
The Group, which is based in Llansantffraid, Wales, manufactures and supplies agricultural products and services for farmers. In addition, it also operates two specialist retail chains, comprising Wynnstay Country Stores, with an offering tailored to the needs of farmers and rural dwellers, and the “Just For Pets” chain of pet product superstores.
The Group continued its strategy of sustained and continued growth in the agricultural sector throughout the year, by completing a number of bolt-on acquisitions including the purchase of the remaining 50% of the issued share capital of Welsh Feed Producers Limited in Carmarthen.
The annual results also reflect the acquisition in January 2008 of Wilsons Pet Centres, comprising 10 pet product superstores. The acquisition of these stores, which are located across the West Midlands, has brought additional scale, expertise and purchasing power to the Group’s pet products division.
Ken Greetham, Chief Executive, commented, “I am delighted to report on strong results for the Group. Wynnstay has continued to grow through a series of acquisitions in both its retail and agricultural divisions. The business has benefitted from added diversity as a result of our expansion into the pet sector and through retail growth with the opening of a number of new stores.
“Our agricultural division has increased its contribution to the Group, aided by a background of more realistic prices for farm produce. Our trading businesses in this sector have performed well, making gains which are unlikely to be repeated in the current financial year.
“We will continue to pursue our twin track strategy of developing both our agriculture and specialist rural retailing activities and believe that the Group is well placed to grow its core businesses. This strong performance will allow us to continue delivering quality and value to our farming customers.”
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