Wynnstay beefs up H1 profit

16th Jun 2010 08:18

Agricultural products supplier Wynnstay served up a 12% increase in half year profit and said it remained 'very positive about growth prospects, short and long term.'The group's specialist retailing activities performed strongly with its 'Just for Pets' chain continuing expansion of its store network and Wynnstay Country Stores seeing like-for-like revenue growth.Pre-tax profit rose to £3.55m for the six months ended 30 April 2010 from £3.16m the same time a year before. Revenues gained 2% to £120.34m.Wynnstay added that the recent acquisition of Woodheads Seed is a notable step for the group, establishing the group as a significant seed processor in the UK and expanding its trading area into a new region. "The Board remains very positive about prospects for the second half of the year and beyond," it said in a company statement.The interim dividend has been increased 9% to 2.40p per share.