Carr's Group (CARR)

Business description

Carr’s Agriculture division serves farmers in the North of England, South Wales, the Borders and Scotland, the US, Germany and New Zealand. The Engineering division offers remote handling equipment and fabrications to the global nuclear and oil and gas industries.

Stock data

Market cap.£121m
Last close132.38p
High / Low (52 weeks)156.0p / 124.0p
Stock market listingLN
Forecast net debt (£m)8
Forecast gearing ratio (%)7
SectorConsumer staples

Price performance

Relative *(8.2)(9.5)(18.3)

* % Relative to local index

Other companies in sector Show

Company news

Carr's Group plc (CARR) Receives “Buy” Rating from Investec

Thu, 23 Nov 2017 20:44:50 GMT

Was Carr's Group plc's (LSE:CARR) EPS Decline A Part Of Broader Industry Downturn?

Thu, 23 Nov 2017 07:30:00 GMT

Carr's Group shares tumble on profit warning

Thu, 30 Mar 2017 11:00:55 GMT

Stock of the week: Carr's Group leads FTSE All-Share

Fri, 17 Apr 2015 15:45:00 GMT

Carr's Group PLC (CARR) Upgraded at Shore Capital

Thu, 16 Nov 2017 10:44:40 GMT

Investment summary

As flagged at the interim stage, group profits dipped during FY17 as a result of weak demand for feed blocks in the US and a major contract delay affecting the UK manufacturing activity. Demand for feed blocks in the US began to pick up in the second half and the major contract was finally signed in July, underpinning a recovery in FY18. Despite these short-term setbacks, management continued to invest for the medium-term, opening up the US nuclear market through the acquisition of NuVision and constructing a new feed-block plant to serve the eastern and southern US. We raise our estimates slightly to reflect a continuation of the favourable environment in UK agriculture and upgrade our indicative DCF valuation from 163p/share to 167p/share.

Last updated on 13/11/2017

Y/E Aug Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 314.9 16.5 14.2 10.8 12.3 10.2
2017A 346.2 13.9 11.9 9.4 14.1 8.0
2018E 364.2 18.7 15.9 12.5 10.6 6.2
2019E 368.4 19.8 16.9 12.9 10.3 6.4

Last updated on 13/11/2017

Latest video

Executive Interview - Carr’s Milling Industries

Industry outlook

NuVision provides products and field services to clients in the commercial nuclear and fossil power plant industries. Following the transaction, NuVision will start to sell Wälischmiller’s complementary range of remote handling equipment to its established base, thus creating a route to market that overcomes the resistance to purchasing from non-US suppliers that Wälischmiller has experienced in the past. In addition, the acquisition strengthens the services that the group’s Engineering division is able to provide to its customers in the nuclear industry.

Last updated on 02/11/2017

Key management

Chris Holmes, Chairman
Tim Davies, CEO
Neil Austin , FD

Company address

Old Croft
United Kingdom
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