Carrs Group Plc announce an Interim dividend of 1.2p per share (H1 2024: 2.35p) to be paid on 20 June 2025 to all shareholders on the register at close of business on 16 May 2025.
Other financial highlights include:
Agriculture Continuing Operations
H1 FY25 revenues increased by 7.0% on prior year to £50.6m (H1 2024 restated: £47.3m)
H1 FY25 adjusted operating profit increased by 33.4% to £7.0m (H1 2024 restated: £5.3m)
UK low moisture block tonnage increased by 13% year on year whilst US volumes grew by 3% despite continued difficult market conditions
Central costs
Central costs, on an adjusted basis, of £1.1m (H1 2024: £1.6m)
Ongoing cost reduction measures continue following Engineering disposals
Adjusting items
Continuing Operations: net £1.8m income of adjusting items (pre-tax) comprising:
£2.9m of gain on disposal of investment / non-core properties and related assets
£0.9m of restructuring costs
£0.2m costs relating to pension scheme buy-in
Discontinued Operations: net costs of £0.7m relating to closure and sale of discontinued activities
Net cash / debt
Half year-end net cash of £15.7m (H2 2024: Net cash £8.0m) - prior to payment of final dividend for FY24
