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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Carr's Group Plc | CARR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 3.75 | 2.88% | 133.75 | 16:35:22 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 132.00 | 132.00 | 135.00 | 133.75 | 130.00 |
| Industry Sector |
|---|
| FOOD PRODUCERS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 21/12/2023 | Final | GBP | 0.0285 | 25/01/2024 | 26/01/2024 | 01/03/2024 |
| 04/08/2023 | Interim | GBP | 0.01175 | 24/08/2023 | 25/08/2023 | 29/09/2023 |
| 02/05/2023 | Interim | GBP | 0.01175 | 11/05/2023 | 12/05/2023 | 19/06/2023 |
| 23/03/2023 | Final | GBP | 0.0285 | 13/04/2023 | 14/04/2023 | 12/05/2023 |
| 05/08/2022 | Interim | GBP | 0.01175 | 25/08/2022 | 26/08/2022 | 30/09/2022 |
| 20/04/2022 | Interim | GBP | 0.01175 | 28/04/2022 | 29/04/2022 | 07/06/2022 |
| 07/12/2021 | Final | GBP | 0.0265 | 16/12/2021 | 17/12/2021 | 26/01/2022 |
| 16/08/2021 | Interim | GBP | 0.01175 | 26/08/2021 | 27/08/2021 | 01/10/2021 |
| 21/04/2021 | Interim | GBP | 0.01175 | 29/04/2021 | 30/04/2021 | 08/06/2021 |
| 23/11/2020 | Final | GBP | 0.025 | 03/12/2020 | 04/12/2020 | 15/01/2021 |
| 15/07/2020 | Interim | GBP | 0.0225 | 27/08/2020 | 28/08/2020 | 02/10/2020 |
| 11/11/2019 | Final | GBP | 0.025 | 28/11/2019 | 29/11/2019 | 10/01/2020 |
| 15/04/2019 | Interim | GBP | 0.01125 | 29/08/2019 | 30/08/2019 | 04/10/2019 |
| Top Posts |
|---|
Posted at 22/1/2024 20:21 by somethingsup More likely picking up dividend before going Ex on 25th Jan? Maybe? |
Posted at 04/9/2023 21:09 by p1nkfish No wonder NAS has been under pressure.I think he holds CARR on expectation of work in nuclear. |
Posted at 06/5/2023 16:47 by kinwah Samson yes we are getting two dividends. 12th May we get the final dividend of 2.85p followed by the interim dividend you mention in June. I said at the time, the final divi announcement was so badly done I struggled to find it as it was not where it would be normally or listed in the highlights. It was voted on at the GM and had 100% approval. |
Posted at 05/5/2023 19:06 by samson23 Are we getting two dividends ? the June dividend is called the first interim dividend for this year no mention of last years final dividend. |
Posted at 04/5/2023 19:43 by kinwah Apparently the general meeting was very well attended especially by former directors. Attention was drawn to the extortionate cost of last year's audit - over £1 million and the lack of growth in dividends compared to directors' remuneration. I get the impression various things are happening behind the scenes. I wouldn't be surprised if there were plans to cut overhead costs now the group has slimmed down. Nice that we'll be getting the final dividend soon and an interim dividend next month. That'll pay for the summer holiday. |
Posted at 12/4/2023 00:27 by kinwah Samson, you raise an interesting point regarding the first interim dividend for financial year 22/23. The GM will be on the same day that the interim results are released with the final dividend for 21/22 being paid on 12th May. That makes the GM on 2nd May a higher profile event as the directors can be quizzed on the interim results released that morning. It would seem likely that the interim results won't be anything special so there must be a chance that the first interim dividend due in June could be omitted. CARR might decide to move to a more normal single interim dividend meaning the total dividend is reduced by 25% leaving it closer to being twice covered by earnings. 2nd May would be the perfect time for the new board to reset the dividend policy and set out plans to grow the business. |
Posted at 29/3/2023 23:23 by samson23 More concerned about the income tax on the dividend. In the last years they have been paid in June, Sept/October and January in each tax year. If there either 4 payments (including what would have been paid in January last tax year) in this tax year (or even if June is cancelled and the the remaining dividends increased to compensate I would be over the limit for Tax free this year.(now reduced to £1000 tax free on dividends) |
Posted at 28/3/2023 10:46 by kinwah This is such an unusual situation that I suspect the FCA might have other concerns. CARR had been an anomaly as a listed company in that it derived over 70% of its revenue from non-wholly owned businesses. The issue with the audit of Carrs Billington Operations highlighted that a substantial part of the business was not under CARR's control. I am no expert on the listing rules but generally, listed companies need a substantial majority of the company's operations under their control. Carr's escaped the Stock Exchange/FCA taking much notice of the company's unusual corporate structure for over 20 years. Now the FCA will be looking at the application for a restoration of the listing and maybe considering that CARR needs to issue a new listing document. If so that would entail considerable expense and delay. It may even be the case that the company could switch to AIM which would not have been possible previously under the AIM rules due to the structure of Carrs Billington. I really hope CARR's advisers and the FCA can sort the situation out swiftly for the sake of shareholders. |
Posted at 23/3/2023 12:45 by johnsoho I personally think these results were pretty good and when the shares re-enter the market they will actually go up in value but, as always, time will tell; I’ve cut and pasted part of the full year report below::For the year ended 3 September 2022 "A strong performance in a transformational year for the Group" Carr's (CARR.L), the Speciality Agriculture and Engineering Group, announces its full year results for the year ended 3 September 2022. Financials (continuing operations) Adjusted (1) FY22 FY21 +/- (restated) (3) -------------------- Revenue (GBPm) 124.2 120.3 +3.3% Adjusted(1) operating profit (GBPm) 11.9 11.1 +7.5% Adjusted(1) profit before tax (GBPm) 11.2 10.4 +8.0% Adjusted(1) EPS (p) 10.0 10.1 -1.0% Dividend (p per share) 5.20 5.00 +4.0% Net debt (2) (GBPm) 14.0 10.0 -40.8% Statutory FY22 FY21 +/- (restated) (3) Revenue (GBPm) 124.2 120.3 +3.3% Operating profit (GBPm) 8.2 8.2 +0.4% Profit before tax (GBPm) 7.6 7.5 +0.4% Basic EPS (p) 6.4 6.2 +3.2% Highlights -- Revenue from continuing operations increased 3.3% -- Adjusted profit before tax from continuing operations increased 8.0% -- Reported operating profit from continuing operations in line with prior year at GBP8.2m -- Agricultural Supplies business sold at market comparable 6.4 x FY21 EBITDA -- Post year-end disposal leads to net cash on balance sheet -- Refreshed Board for 2023 -- Group now focused on higher margin, differentiated, international businesses Peter Page, Chief Executive Officer, commented: "2022 was a year of significant change for Carr's Group. With a clear direction and strategy, the business is now focused on higher-margin, differentiated, international Speciality Agriculture and Engineering businesses with strong growth prospects." |
Posted at 17/1/2022 17:36 by value hound Tipped in Master Investor FWIW:------------ Carr’s Group – a robust balance sheet and undervalued upside This group has been a real laggard to date but I now reassess its prospects. I was casting an eye over some of my Profile non-performers and this company appears to me to be worth a lot more than the current market valuation. The business I am hoping that the Annual General Meeting, to be held tomorrow for the Carlisle-based Carr’s Group (LON:CARR), might impart some good news to help improve its rating. This is not a whizz-bang fintech stock, nor a flash pharma one either, instead it is a £147m capitalised group that is actually making profits, despite facing pandemic issues. Corporate history The company was established by Jonathan Dodgson Carr in 1831 as a baker and dealer in meal and flour. To supply the baking business, he set up his first flour mill in 1834. Diversification into the animal feed business came shortly after WWII. The group went public in 1972 and it subsequently acquired its first engineering business in 1996. Some twenty years later the company disposed of its entire shareholding in Carr’s Flour Mills. August 2017 saw the acquisition of NuVision Engineering, a US-based world-renowned technology and engineering company. Further corporate expansion was seen in September 2018, with the acquisition of Animax, a manufacturer of market-leading livestock trace element supplementation products. A year later the group acquired NW Total Engineered Solutions, a service and manufacturing company serving the nuclear defence, nuclear decommissioning, nuclear power generation and other highly regulated markets, such as the utilities, pharmaceuticals and energy sectors. Today Carr’s describes itself as an international leader in manufacturing value added products and solutions, with market leading brands and robust market positions in Agriculture and Engineering, supplying customers in over 50 countries around the world. It operates a decentralised business model that empowers its operating subsidiaries to be competitive, agile, and effective in their individual markets whilst setting overall standards and goals. It derives 84.3% of its £417.3m sales revenues from the UK, some 11.5% from the US, 3.8% from Europe, and New Zealand 0.4%. Speciality Agriculture Its Speciality Agriculture division manufactures and supplies molasses feed blocks, minerals and boluses (large vet pills) containing trace elements and minerals for livestock. It has operations in the UK, Germany and the US. This division handled £68.5m (16.4%) of the group’s £417.3m revenues in the year to end August 2021, making a £9.5m operating profit. Agricultural Supplies Its Agricultural Supplies division manufactures compound animal feed, distributes farm machinery and fuels, and runs a UK network of rural stores, providing a one-stop shop for the farming community. This side operates over 37 rural outlets across the north of England and Scotland, including seven machinery branches. It manufactures and distributes some 500,000 tonnes of animal feed produced at three plants in the UK. The company also services rural and farming communities in the UK with heating oil and fuel from its eight depots. This division represented £297.5m (71.3%) of revenues, generating a slim but improving profit of £6.7m. The last year was a successful one with feed volumes, machinery revenues and retail sales all improved. Engineering Its Engineering division designs and manufactures pressure vessels, manufactures precision components from specialist steel alloys, manufactures robotic manipulators, and provides engineering design, assembly, and installation services for the nuclear, defence and oil & gas industries. Engineering contributed £51.3m (12.3%) of sales and £3.9m of operating profit. Despite lower oil prices and Covid-19 impacting this side in Q1 its adjusted profits were only marginally higher. However, it ended the period with a 15.9% increase in its recovered order books and now stands at over £44.6m. Outlook The company has a strong cashflow and a robust balance sheet, worth some £130m. Group debt is expected to reduce still further this current year, after the 47.2% drop from £18.9m to just £10m by the year end. Estimates suggest £8m in 2022 then down to just £2m by the end of the 2023 trading year. Livestock and milk prices remain strong, which should underpin strong demand for Speciality Agriculture in both the UK and the US. Continued investment in Agricultural Supplies, is expected to be made this year across people, processes and technology. Market Views Trading in FY22 has started positively and in line with expectations, with the inflationary headwinds being managed. The group’s Board remains confident in the prospects for all three divisions. Market expectations are for a slight increase to £422m in sales, to £17.25m in profits, worth 13.7p in earnings and covering a 5.2p dividend. For the year to end August 2023 sales are expected at £434m, profits of £17.9m, earnings at 14p and a dividend of 5.4p per share. My View I see the next couple of years being a period of advancement for Carr’s. It is a well-run business that is able to grow steadily, aided by the occasional acquisition – much as it has done since 1831. Having first prepared a Profile on the company way back in July 2019 I have only seen the shares subsequently peak out at 160p, only some 7p better than my initial price. However, I really do like the investment attractions of this solid company after the hassles of the last couple of years. With its shares now at only 152p I will set a new Target Price of 185p for 2022. |
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