Carr’s trading update for the first 19 weeks of FY21 notes that trading in Agriculture was ahead of management expectations because of strong sales of supplements. This was offset by a weaker than expected performance in the Engineering division caused by continued low crude oil prices. We note that net debt (excluding leases) was 24% lower year-on-year at the end of November, reflecting close inventory control and lower commodity prices. We leave our estimates broadly unchanged and reiterate ou ....
12 Jan 2021
Carr's Group - Supplements sales offset low oil and gas investment
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Carr's Group - Supplements sales offset low oil and gas investment
Carr's Group PLC (CARR:LON) | 112 -2.8 (-2.2%) | Mkt Cap: 105.9m
- Published:
12 Jan 2021 -
Author:
Anne Margaret Crow -
Pages:
4
Carr’s trading update for the first 19 weeks of FY21 notes that trading in Agriculture was ahead of management expectations because of strong sales of supplements. This was offset by a weaker than expected performance in the Engineering division caused by continued low crude oil prices. We note that net debt (excluding leases) was 24% lower year-on-year at the end of November, reflecting close inventory control and lower commodity prices. We leave our estimates broadly unchanged and reiterate ou ....