The Wynnstay Group Board is to propose a final dividend of 11.90p per share, which subject to shareholder approval at the Company's AGM on 27 March 2025, will be paid on 30 April 2025 to shareholders on the register as at 27 March 2025. Together with the interim dividend of 5.60p per share, paid on 31 October 2024, this gives a total annual dividend of 17.50p (2023: 17.25p), an increase of 1.4% year-on-year. The proposed final dividend reflects the Group's strong cash generation as well as the Board's view of prospects in the new financial year.
Other financial highlights include:
Results in line with revised expectations and reflect challenging market conditions.
Revenue decreased to £613.1m (2024: £735.9m) with commodity deflation, which accounted for c. £117.9 (96%) of the reduction.
Gross profit of £79.2m (2023: £79.9m), with lower activity and decreased unit margins in fertiliser manufacturing and grain marketing.
Non-recurring items of £2.3m (2023: £0.1m) related mainly to business reorganisation expenses and impairment of assets.
Robust balance sheet with net cash at £32.8m (2024: £23.7m).
