Wynnstay FY profit up slightly

20th Jan 2010 09:15

Welsh agricultural products supplier Wynnstay said annual profit improved slightly while revenue fell but added that it remains very positive about growth prospects. Pre-tax profit improved to £5.12m for the year to 31 October 2009 from £5.1m the year before. Revenue for the period fell to £215m from £234.6m previously.The group's Just for Pets chain saw pro-forma revenues rise 16%, helped by two new store openings. Wynnstay Stores saw like-for-like revenues increase by 7%.Chief executive Ken Greetham said, "The group's activities are underpinned by a strong balance sheet and we remain confident about prospects to develop the business further." A final dividend of 4.3p has been recommended, bringing the total to 6.5p per share from 6p before.