Carr’s ‘resilient’ first half brings revenue of £200m

Shares of Carlisle-based agriculture and engineering firm Carr’s Group rose about 9% on Wednesday after it published “resilient” first-half results for the 26 weeks ended February 29, 2020.

Reported profit before tax rose 1.7% to £10.5 million on revenues that slipped 3% to £200 million.

Carr’s Group CEO Tim Davies said: “In challenging market conditions, with significant headwinds experienced in both divisions, we have delivered a resilient performance in the period.

“While there remains significant uncertainty over the impact of COVID-19, we are moving decisively on all fronts to address these challenges, ensuring we conserve cash and maintain a robust financial position.

“We will continue to monitor developments closely and respond accordingly.

“At this time the health, safety and well-being of our employees, customers and the wider communities in which we operate remain our absolute first priority, and we have implemented measures to protect and support them through these unprecedented times.

“We are confident that our approach and robust business model will ensure the group is well placed to endure this period of uncertainty and continue to deliver growth in the medium term.”