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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.£138.5m
Last close151.50p
High / Low (52 weeks)165.0p / 120.0p
Stock market listingLN
Forecast net debt (£m)14.4
Forecast gearing ratio (%)13
Team
SectorConsumer staples

Price performance

%1m3m12m
Actual1.95.28.1
Relative *1.41.24.8

* % Relative to local index

Other companies in sector Show

Company news

Investment summary

The recovery in both US feed block sales and the UK manufacturing businesses noted at Carr’s Group’s AGM in January has continued through to the end of June. As both divisions are trading slightly ahead of management’s expectations at the interim stage, we raise our estimates again and revise our indicative valuation from 169p/share to 178p/share.

Last updated on 18/07/2018

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 14.0 11.7
2017A 346.2 13.9 11.9 9.4 16.1 9.2
2018E 377.4 19.4 16.6 13.1 11.6 8.9
2019E 384.3 19.8 16.9 13.4 11.3 7.4

Last updated on 18/07/2018

Latest video

Executive Interview - Carr’s Milling Industries

Industry outlook

Read-across from Wynnstay Group's recent results confirms the positive outlook for UK farming. For Carr's, the favourable prices that farmers are currently receiving for livestock and milk supports demand for feed, feed blocks, machinery and other agricultural inputs. Like its peer, we expect Carr's to have benefitted from the cold weather in early spring.

Last updated on 29/06/2018

Key management

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

Company address

Old Croft
Stanwix
Carlisle
CA3 9BA
United Kingdom
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