Wynnstay 1H Earnings Jump 12% On Lower Costs, Outlook Positive

16th Jun 2010 08:03

LONDON (Dow Jones)--Wynnstay Group PLC (WYN.LN), a manufacturer and supplier of agricultural products, Wednesday posted a 12% jump in pretax profit for the six months ended April 30 after a slight rise in revenue and a sharp drop in finance costs boosted earnings, adding it's positive about prospects for the second half of the year and beyond. MAIN FACTS: -Revenue up 2% to GBP120.34 million (2009: GBP117.70 million). -Operating profit up 8% to GBP3.74 million (2009: GBP3.47 million). -Pretax profit up 12% to GBP3.55 million (2009: GBP3.16 million). -Earnings per share up by 9% to 17.73 pence (2009: 16.31 pence). -Diluted earnings per share 17.47 pence (200916.14 pence -Net assets rose by 10% to GBP42.0 million (2009: GBP38.2 million). -Cash and cash equivalents GBP497,000 at period end. -Interim dividend up by 9% to 2.40 pence per share (2009: 2.20 pence). -Board remains very positive about growth prospects, short and long term. -At 0702 shares up 4 pence, or 1.6%, at 254.5 pence. -By Elliott Ball, Dow Jones Newswires; 44-20-7842-9314; [email protected] (END) Dow Jones Newswires June 16, 2010 03:03 ET (07:03 GMT)