Wynnstay Share Discussion Threads

[brownie69] 20/1/2011 10:22

Good to see this strength ahread of results. Hopefully bodes well!

[rarther] 05/1/2011 17:41

05 January 2011

WYN

Wynnstay Group plc

Notice of Results

Wynnstay Group plc, the agriculture and specialist retail group, is pleased to announce that it will report its final results for the year ended 31 October 2010, on Wednesday, 26 January 2011.

[rarther] 20/12/2010 09:29

Got this in my sharebuilder so looking for some mediocre returns until my stake is up... looking oversold on the charts though.

[brownie69] 17/11/2010 09:09

I'm not sure why they would hold large stocks of wheat.
Could have a positive impact on the seeds business though as there is likely to be some switching by farmers to grow more wheat and this increased demand will inevitably send prices higher.

[9degrees] 12/8/2010 10:25

Could the rising priuce of wheat and the cessation of exports by Russia be good news for Wynnstay ?
Have they got good wheat stocks already I wonder ?.
Will UK farmers be concentrating on growing wheat next year ?

[miro56] 09/7/2010 16:58

'...A key driver for trading within the group's core Agricultural Supply division is fertiliser prices. A spike in prices had a harsh effect on fertiliser demand in preceding years but with prices now stabilising and Wynnstay expecting a return to historical patterns of demand, trading prospects for the division are looking more certain. Established retail outlets are trading well and the business has dramatically boosted its presence in seed processing too.

Wynnstay's joint-broker Shore Capital expects earnings of 26.6p for the current year, putting the firm on a current rating of 9.7, with the shares yielding 2.8% if as expected a 7.3p dividend is paid. The following year the multiple falls to 9.1 on estimates of 28.5p of earnings. In light of the group's strong track record of integrating acquisitions and growth prospects across its operations I rate the shares as a BUY'.

[miked500] 17/6/2010 07:26

from the mail- Excellent interims lifted Wynnstay 28p or 11.2pc to 278.5p. The supplier of agricultural feed stocks reported a 12pc leap in pre-tax profits to £3.55m and a 9pc dividend increase to 2.4p per share. It benefited from increasing demand for free-range eggs. Its Just For Pets chain continued its expansion. The board remains positive about prospects. Broker WH Ireland's target price is 300p.

[9degrees] 09/6/2010 07:17

results on 16th june

[willpeterson] 15/2/2010 11:14

Buy Wynnstay at 261.5p - An article I recieved in my inbox yesterday:

[investinggarden] 08/2/2010 15:00

Strong Buy Rating from Growth Company Investor

[9degrees] 21/1/2010 15:33

Write up in investors chronicle .In 2007-08 Wynnstay reported bumper profits. They rose two-thirds thanks to a combination of strong farmer demand and rising agricultural prices. Last year it had to combat the reverse - deflation - as raw material (notably nitrogen) prices fell and there was less demand for both feed and fertiliser as farm gate prices dropped.
But, as the latest results show, Wynnstay still performed well despite a fall in revenues. The group believes that inflation boosted 2008-09 turnover by some £40m and falling prices knocked half that off last year. In addition, the purchase of the remaining half share in a mill in Carmarthen added £15m to sales. So how have profits stayed level? One answer is that early in 2009 the group sold a lot of fertiliser stock before prices crashed. Another reason is that it has built up a strong second string in the form of 28 country stores which are benefiting from a continuing refurbishment programme plus 15 Just for Pets town superstores in the West Midlands. Both performed well last year and now account for a quarter of turnover. Deflation also meant lower stocks and working capital needs so net debt fell sharply.

But what does 2009-10 hold for a UK agricultural merchant? The answer at the moment seems to be fairly stable feed and fertiliser volume sales and probably not much in the way of price increases until later in the year. Brokers Shore Capital and WH Ireland both expect 2009-10 sales to fall again this year (to £209m and £205m respectively) while profits move up slightly to £5.4m in both cases.


WYNNSTAY GROUP (WYN)

ORD PRICE: 235p MARKET VALUE: £34.2m
TOUCH: 232-238p 12-MONTH HIGH: 247.5p LOW: 161p
DIVIDEND YIELD: 3% PE RATIO: 9
NET ASSET VALUE: 272p* NET DEBT: 14%



Year to 31 Oct Turnover (£m) Pre-tax profit (£m) Earnings per share (p) Dividend per share (p)
2005 101 2.87 22.8 5.00
2006 111 2.46 19.1 5.25
2007 157 3.06 19.6 5.50
2008 235 5.11 29.3 6.00
2009 215 5.12 26.4 6.50
% change -9 +0 -10 +8
Ex-div: 25 Mar

Payment: 30 Apr

[investinggarden] 16/7/2009 11:51

Buy recommendation from Growth Company Investor

[jonwig] 11/3/2009 09:08

Good write-up by Investors Champion:



(Need to register - free and no hassle.)

[jeffian] 21/1/2009 09:39

Agree, jonwig, and I've had 'em on my watch-list on the back of past good results, but they're still over 20% down on that which just goes to show that you can't buck the market trend. Must be a good long-term buy though, surely? If the market returns to its average trend of around 14x earnings, these are going to look very cheap one day.

Regards, Ian

[jonwig] 21/1/2009 08:12

Recession? What Recession?

These look to be very solid results at first sight, with eps of 29p (PE about 6) and divi of 6p (yield 3.5%).
Sound balance sheet, good divi cover.
Confident outlook statement. Opps for acquisitions in still-fragmented sector.

[oregano] 18/6/2008 09:40

From Shore Capital. they are broker. Decent upgrades and a reasonable valuation. Given the continuation of trends they describe, this could press on from here.

WYNNSTAY GROUP+ - Interim Results. Agricultural supplies and services group Wynnstay has reported a very strong first half for the six months to 30th April 2008. Animal feed and fertiliser sales have been buoyant reflecting an air of confidence within the UK farming sector, notably dairy farmers where feed volumes rose by 48%. Headline figures make for impressive reading with turnover up 16% to £116m and CPBT up 50% to £3.0m Although several bolt-on acquisitions have been successfully integrated in the period and the more sizeable Wilsons Pet Stores acquisition is said to be performing well, we are as much encouraged by the underlying performance of the business with feed volumes overall believed to be up c10% and like for like sales of the retail operations up 13%. Although management remains cautious citing potential one-time benefits from its well timed raw material purchases and the consequent cost inflation feeding through to farmers, we are still upgrading our 2008F CPBT and EPS forecasts by 13% to £4.4m and 24.0p. To our minds Wynnstay Group stock continues to look attractive with the Group's favourable outlook and robust balance sheet (Debt:EBITDA 1.7x, Gearing c35%) which should enable it continue to play an active role in the consolidation of the UK agricultural sector, as well as its roll out of its Pets For You retail concept. No Recommendation.

[gateside] 21/6/2007 07:25

Wynnstay profits up
Jun 21 2007

by Aled Blake, Western Mail


INCREASED grain prices and growing confidence in agriculture have resulted in a 39% increase in profits for farming service venture the Wynnstay Group.

It comes after the company made its biggest acquisition in a £2.5m deal for Lancashire-headquartered Glasson Group in August 2006.

And earlier this year, Wynnstay announced it was establishing a dedicated pet retail chain and is rolling out its Just For Pets stores across the UK.

Mid Wales-based Wynnstay manufactures and supplies agricultural products and services including fertiliser, seeds, animal feed, animal health care products, pet and equine food.

Maize prices have risen 53% over the past 12 months fuelled by demand from bio-fuels companies and the turbulent weather around the world has meant poor crops limited supply.

And with recent raw material price rises set to continue – maintaining the trend that has seen food prices in Britain rise 6% in the 12 months to April, the fastest rate for six years, Wynnstay has confirmed the outlook for the full year is positive.


In its interim results to April 2007, turnover increased by 52.6% to £79.90m with pre-tax profit up by 39% to £1.96m, compared to £1.41m in 2006.

The group said its arable division performed strongly, benefiting from the higher grain prices and newly confident farmers restocking fertiliser.

Bernard Harris, managing director of Wynnstay, said yesterday, "Our staff numbers have doubled from 230 in 2002 and we can only do that if the business is moving forward and is making a profit.

"We are extremely optimistic about the future of the company."

Mr Harris said there was now "genuine confidence" in the agricultural industry. A mild winter had helped sheep farmers in the lambing season and the arable sector had been boosted by demand for bio-fuels.

The company is also introducing new products for farmers to keep up with shopping trends. Mr Harris said, "We are developing lamb feeds with Omega 3 in them because the supermarkets are asking for lamb that is high in Omega 3."

Wynnstay also has a property development arm and has built more than 100 new homes in North Wales, with plans for more elsewhere.

But Mr Harris said he was not concerned that the business was becoming diversified.

He said, "The timing of our acquisition of Glasson could not have been better.

"Now, we are developing a range of standalone pet stores and we are looking at sites on retail parks to establish them.

"This is a reasonable diversification in a sector we know a lot about and we have good income coming from outside the tradition core of the business – but in businesses we understand."

John Davies, chairman of Wynnstay, said, "The balanced spread of our activities continues to ensure we are able to perform robustly in challenging market conditions.

"We believe our twin track strategy of acting as a consolidator in the agricultural sector while expanding our higher margin retail activities will continue to bring ongoing benefits.

"Our position as a low-cost, high-quality supplier considerably strengthens this strategic approach."

[linhur] 26/1/2007 23:20

Disappointing downturn in full year profits.
I thought all these new subsidiaries such as housebuilding, plant sales, better retail stores, dogfood, horse equipment were supposed to cover the hole in the traditional businesses.

[mw8156] 13/11/2006 18:45

See Carrs came out with a bad report...Is this a generalised industry problem or are WYN and NWF encroaching on their territory?

[wassapper] 24/9/2006 19:40

That Was The Week That Was ... In Soft Commodities

By Sally White

Speculative interest in commodities has definitely slowed, according to US investment bank Morgan Stanley, with net inflows to commodity-linked mutual funds totalling US$107million so far this year, against US$3.8 billion for the same time of 2005. However, with the International Monetary Fund's latest commodity study showing that speculative positions follow commodity price movements, not the other way around, there is still potential running in a number of the soft commodities with a fundamental supply shortage. ... more ....

[wassapper] 11/9/2006 07:10

That Was The Week That Was ... In Soft Commodities

By Sally White

Suddenly every country seems to be announcing woes with their wheat harvests. Prices been rising at the fastest monthly rates for seven years as India abandons import barriers to feed its growing population and first too little and then too much rain takes a toll across crops in Eurasia, the Pacific and North America.

While the supply/demand numbers would not scare a metals trader, a four per cent drop in the International Grain Council's forecast for this crop year of 593 million tonnes makes it the smallest for three years. The estimated 15 per cent drop in stocks to 117 million tonnes gives also gives a historically low number, encouraging forecasts of more price rises to come. .. more