Powys-based agricultural supplies group Wynnstay is on track to achieve its targets for the year, its chief executive has said after posting its half year results.
For the six months to the end of April this year, the Alternative Investment Market firm saw a decline in its pre-tax profit, down from a record £9.56m in 2022 to £5.07m, due to the changed market backdrop following one-off rising fertiliser prices last year.
However, revenue rose by 22% to £409.14m, from 2022 figures of £335.66m, as the group benefitted from contributions from its acquisition of Humphrey and Tamar last year and commodity price inflation accounting for around £48m of the overall rise in revenue.
