Audit Timing and Trading Update
10 February 2023
Carr's (CARR.L), the Speciality Agriculture and Engineering group, announces an update on the timing for the completion of its statutory audit and provides a trading update.
Further to the Group's announcement on 26 January 2023, completion of the Group's statutory audit has been extended. Field work is essentially complete, with the Company and its auditor Grant Thornton UK LLP ("GT") currently concluding a small number of supplementary information requests to close out routine testing. Final auditor internal review and quality checks have commenced already.
GT and the Company will complete and release the audited results for the financial year ended 3 September 2022 (the "Results") not later than Monday 27 February 2023.
The Group expects to report the Results in line with previous guidance.
Trading in the early part of the current financial year was strong, but became more challenging in November and December 2022, with lower volumes of feed blocks sold in both the USA and UK markets related to weather conditions, and competitive pricing for tenders in the engineering division. Notwithstanding these challenges, the Board remains of the view that trading for the full year continues to match management expectations and a further update will be provided at the half year.
Carr's Group plc
+44 (0) 1228 554 600
Peter Page, Executive Chair
Matthew Ratcliffe, Company Secretary
+44 (0) 20 3727 1340
Richard Mountain/Ariadna Peretz