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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Wynnstay Group Plc | LSE:WYN | London | Ordinary Share | GB0034212331 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-12.50 | -3.40% | 355.00 | 350.00 | 360.00 | 360.00 | 355.00 | 360.00 | 52,674 | 16:25:03 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Farm Management Services | 735.88M | 6.93M | 0.3018 | 11.76 | 81.49M |
TIDMWYN
RNS Number : 4743M
Wynnstay Group PLC
30 April 2018
30 April 2018
AIM: WYN
Wynnstay Group plc
("Wynnstay" or the "Group" or the "Company")
Acquisition of Agricultural Stores
Wynnstay, the agricultural supplies group, is pleased to announce that it has reached agreement with the administrators of Countrywide Farmers plc ("Countrywide") to acquire the business and assets of eight stores from Countrywide's network of country outlets for a total initial consideration of GBP0.8m, payable in cash on completion, to be adjusted for stock valuation.
With five of the stores located in Devon and Cornwall, their addition strategically extends Wynnstay's geographic reach in the South West of England, particularly in Cornwall, following an acquisition in the county in March 2018. The remainder help to consolidate Wynnstay's existing presence in Shropshire, Monmouthshire, and Oxfordshire, with stores in Bridgnorth, Raglan and Thame, respectively. The new stores provide a range of products for farmers and the rural community, and operate similarly to Wynnstay Country Stores. At completion, the total number of Wynnstay Country Stores will increase from 52 to 60 outlets.
In the year to 30 November 2017, the new stores generated combined sales of GBP16.4m. Following completion, Wynnstay intends to implement an integration and investment programme, and expects to see the benefits of a positive contribution from the stores start to come through over the course of 2019 and beyond.
The Company will announce half year results for the six months ended 30 April 2018 in mid-June.
Ken Greetham, Chief Executive Officer of Wynnstay, commented:
"We are very pleased to have acquired eight country stores previously operated by Countrywide Famers. Their addition increases our footprint in both our existing trading heartland, and in the South West of England, in particular giving us an increased profile in Cornwall and Devon.
"Farmers and the rural community are at the heart of Wynnstay's offering and we look forward to welcoming new customers to the Group, as we introduce our products and services across these new stores."
Enquiries:
Wynnstay Group plc Ken Greetham, Chief T: 01691 Executive 827 142 Paul Roberts, Finance Director KTZ Communications Katie Tzouliadis T: 020 3178 / Irene Bermont-Penn 6378 / Emma Pearson Shore Capital (Nomad Stephane Auton / T: 020 7408 and Broker) Patrick Castle 4090
This information is provided by RNS
The company news service from the London Stock Exchange
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April 30, 2018 05:03 ET (09:03 GMT)
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