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Share Name Share Symbol Market Type Share ISIN Share Description
Carr's Group Plc LSE:CARR London Ordinary Share GB00BRK01058 ORD 2.5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 121.50 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
116.00 125.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Food Producers 417.25 12.05 8.30 14.6 114
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 121.50 GBX

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Date Time Title Posts
26/1/202315:20Carr(Formerly Carr's Milling)409

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Posted at 06/2/2023 08:20 by Carr's Daily Update
Carr's Group Plc is listed in the Food Producers sector of the London Stock Exchange with ticker CARR. The last closing price for Carr's was 121.50p.
Carr's Group Plc has a 4 week average price of 0p and a 12 week average price of 101.50p.
The 1 year high share price is 160p while the 1 year low share price is currently 90p.
There are currently 93,994,796 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Carr's Group Plc is £114,203,677.14.
Posted at 26/1/2023 13:10 by cwa1
Update on Audit completion, Results and AGM timing, and Board Succession



Carr's Group plc (LSE: CARR), the Speciality Agriculture and Engineering
group, announces an update on the completion of its statutory audit, dates of
its full year results for the financial year ended 3 September 2022
("Results") and Annual General Meeting ("AGM"), and Board succession.



Further to the Group's announcement on 4 January 2023, the Group's statutory
audit timetable has been extended due to the additional work required as
announced on 22 November 2022. The Group, therefore, anticipates releasing
its Results on 14 February 2023.



The Group's AGM will be held in Carlisle at 12.00 p.m. GMT on Monday 27
February 2023. Notice of the AGM will be issued to shareholders by no later
than 3 February 2023.



Following publication of the Results, the Group will call a separate General
Meeting to approve the Annual Report and Accounts for the financial year ended
3 September 2022 ("Annual Report and Accounts 2022"). Notice of the meeting,
together with a copy of the Annual Report and Accounts 2022 will be issued to
shareholders as soon as practicable after 14 February 2023.



To facilitate timely completion of the Annual Report and Accounts 2022, the
following previously announced changes to Board appointments will become
effective at the time the Results are released:

·

Tim Jones will join the Board and immediately take up the role of
Non-Executive Chair

·

Peter Page will relinquish the role of Executive Chair and become
Chief Executive Officer

·

Neil Austin will leave the Board and stand down as Chief Financial
Officer

·

David White will join the Board as Chief Financial Officer



At the request of the Group, trading in Carr's shares was suspended on 4
January 2023 in accordance with the FCA's Listing Rules. The Group will apply
to have the trading of its shares reinstated upon the day its Results are
published.

Posted at 04/1/2023 07:45 by cwa1
Company suspended at it's own request as expected, wonder how long it will take to get audit done?

https://www.investegate.co.uk/official-list/rns/suspension--carr-s-group-plc/202301040730015555L/

Posted at 22/11/2022 07:23 by cwa1
Trading Update and Delay To Audited Results

https://www.investegate.co.uk/carr--39-s-group-plc--carr-/rns/trading-update-and-delay-to-audited-results/202211220700081346H/

Trading update

Since the Group's last trading update on 5 August 2022, Carr's has continued to perform strongly, with performance for FY22 in line with the Board's expectations and ahead of the prior year.

Post period-end, the Group disposed of its Agricultural Supplies division. The continuing Group is therefore made up of the Speciality Agriculture and Engineering divisions. FY22 adjusted operating profit in Engineering was behind the Board's expectations, as previously indicated. However, it was significantly ahead of the prior year. In Speciality Agriculture, adjusted operating profit was ahead of the Board's expectations but down slightly versus the prior year due to margin erosion in the first half. Net debt (excluding leases) for the continuing Group as at 3 September 2022 was £14.0m (2021: £10.0m).

Trading for continuing Group operations in the current financial year has started well, in line with the Board's expectations and ahead of FY22.

They've also announced a delay to the audit process and short term suspension of the shares in early January

Posted at 22/10/2022 10:37 by bottomfisher
Re; changes in share stakes. Rights and Issues has not sold its stake in Carr's. All that has happened is that the management of the trust has been transferred to Jupiter who have signalled that they now own the stake.

I have no inside knowledge about the strengths/weaknesses of Carr's top management who are now in charge of a much slimmed down, but higher margin business. But Peter Page, Carr's new chief executive, appears to have had a successful 11 years as CEO of Devro, a considerably bigger and more profitable company than Carr's, and since he took over as chairman three years ago has spent £187,00 on buying Carr's shares at an average price of £1.50.share.

Posted at 21/10/2022 17:05 by fevertreeman
2.7m shares traded and the share price didn't budge! What we know is that none of those will come from our useless board of dreictors who have driven this into the ground. So my guess is that another institution has throwen in the towel (following Rights who sold out)but that they have found a buyer for their stake. TR1 no doubt will follow. Wouldnt surprise to find a hedge fund or PE firm suddenly taking a notifiable stake in this dozy outfit. £30 of net cash about to hity bank a/c valuing the remaining franchises in nuclear engineering & specialist agri at a paltry £60m. This company is a sitting duck frnakly; and management are hopeless.
Posted at 21/9/2022 10:02 by fevertreeman
The fall is relentless , now trading below £1. To give this some perspective, the disposal announcement came out on August 31. The share price close that day at 133p On August 31 the day of the disposal announcement the share price closed at £1.33p. So we have a strategic review of the group that lasted 9 months, and culminated in exiting the JV, in return for a wodge of cash, a significantly smaller group, but one with higher prospective margins. So suppoedly a transformational deal. Sadly Mr Market, and shareholders did not buy this view.

Perhaps our Chairman and Board would care to explain why after a supposedly transformational deal, our share price has tanked 25%+ in 21 days? The Board should hang their collective heads in shame at their disastrous performance. The senior NED should be on the phone to the institutions explaining what has happened and why they should stick weith it.Disastrous stewardship of a business that appeared to have strong positions, but they have destroyed confidence in teh company. The CEO who was fired clearly came up against entrenched board opposition among the has-beens in Cumbria. Utter disaster.

Posted at 15/9/2022 10:52 by fevertreeman
Unfortunately, it appears that the slide presentation was it. I have no idea how the presentation went down with institutional investors, but judging from the share price not well. Simon Knott, on of our best fund managers, who ran Rights & Issues investment trust since 1984, stepped down as its investment manager on Sept 1. For Carr's is his 10th largest holding, as of Anugust, with 4.75m shares so he clearly saw value. Howeve, given the performance of the management post announcement of sale + the fact that Jupiter are now in the drvingi seat at teh fund, I wonder what their view is? Something has to change at Carrs and quick because the management appears dire
Posted at 31/8/2022 06:20 by cwa1
Disposal of agricultre supplies interests:-

https://www.londonstockexchange.com/news-article/CARR/disposal-of-interests-in-agricultural-supplies/15606814

In line with the strategic review announced on 18 January 2022 to grow shareholder value, Carr's (CARR.L), the Agriculture and Engineering Group, is pleased to announce that it has entered into a conditional agreement to dispose of its interests in the Carr's Billington Agriculture business (the "Agricultural Supplies Division") to Edward Billington and Son Limited (the "Purchaser") for an aggregate consideration of up to £44.5 million (the "Disposal").



The Disposal will enable the Group to focus on its Speciality Agriculture and Engineering Divisions, both of which provide a greater opportunity for growth and historically have achieved higher profit margins.

Posted at 12/8/2022 11:34 by km18
Carr’s Group issued a trading update last week. The Group's overall trading performance is in line with the Board's expectations for the full financial year. In Speciality Agriculture, whilst raw material costs continued to rise significantly, sales margins were notably improved in all markets as price rises have been passed onto customers. UK Agricultural Supplies traded well during the period, with continued high activity levels in retail and machinery and with the market absorbing the impact of cost inflation in fuels and feeds. Engineering continued to benefit from high levels of work supported by a strong order book. Financial performance however remained below management expectations due in part to supply chain delays for some components of orders for robotics. A second interim dividend of 1.175 pence per share will be paid on 30 September 2022. Valuation is relatively attractive, the balance sheet is solid, dividend yield over 4%. But growth is unexciting and the share price is still in a 12-month correction for now. CARR is a share to monitor for now....

...from WealthOracle

https://wealthoracle.co.uk/detailed-result-full/CARR/525

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.

Carr's share price data is direct from the London Stock Exchange
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