AGRICULTURE to engineering group Carr's Milling today reported a "positive financial performance" on the back of favourable trading conditions.
The Carlisle-based business said that its agriculture division had traded particularly strongly, supported by high demand for its feedblock supplements in the US due to the high price of forage following last year’s drought.
The food section, which includes three flour mills, performed “relatively well” despite the “lowest quality UK wheat harvest since records began”, Carr’s said. It expects UK and imported wheat prices to remain volatile.
And in engineering, Carr’s said a number of major contracts had been completed since its year-end on September 1.
The business proposes to a final dividend of 14.5p per share to be paid on January 18, subject to approval at today’s AGM.