Carr’s of Carlisle first-half revenue up 11% to £223m

Carlisle-based agriculture and engineering firm Carr’s Group said on Wednesday its first-half revenue rose 10.6% to £222.7 million in the 26 weeks ended February 26 and profit before tax held steady at £9.5 million despite what it called “extraordinary raw material cost increases.”

In its outlook, Carr’s said: “During the second half, an improved performance in engineering, where order books stand at record levels, together with continued positive trading in agricultural supplies are expected to offset volume and pricing challenges in speciality agriculture.

“The board is confident in the prospects of all three divisions in the medium term and its full year expectations are unchanged.”

Carr’s is still looking for a new CEO.

The firm announced in October that Hugh Pelham had stepped down as CEO after only nine months, leaving the group with immediate effect to “pursue other interests.”

Chairman Peter Page became executive chairman on an interim basis.

Page said on Wednesday: “Carr’s Group has performed well in the first half, with a strong performance in agricultural supplies at a time of extraordinary raw material cost increases and a marked recovery in engineering offsetting input cost impact on margins in speciality agriculture.

“The outlook for the second half remains positive with the group on track to meet the board’s expectations for the full year.”

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