CARR'S GROUP PLC RISING TO THE CHALLENGE
Annual Report and Accounts 2021
Introduction
What we do
CARR'S IS AN INTERNATIONAL GROUP INVESTING IN THE AGRICULTURAL AND ENGINEERING SECTORS.
OUR VISION
To build an innovative and successful group of market- leading businesses.
OUR PURPOSE
In Agriculture, our core purpose is to enable more productive and sustainable farming.
In Engineering, our core purpose is to provide specialist engineering services to create and maintain critical operating assets for our customers.
What's in our report
Strategic Report
- Our Group
- Highlights
- At a Glance
- Chairman's Statement
- Market Overview
- Our Business Model
- Group Performance Review
- Strategic Framework
- Our Key Performance Indicators
- Financial Review
- Our Strategy In Action: Speciality Agriculture
- Our Strategy In Action: Agricultural Supplies
- Our Strategy In Action: Engineering
- Divisional Review: Speciality Agriculture
- Divisional Review: Agricultural Supplies
- Divisional Review: Engineering
- Risk Management
- Viability Statement
- Stakeholder Engagement
- Responsible Business: Developing our Sustainability Strategy
- Responsible Business Review
- Non-FinancialInformation Statement
GovernanceReport Strategic
Information Shareholder Statements Financial
- Consolidated Income Statement
- Consolidated and Company Statements of Comprehensive Income
- Consolidated and Company Balance Sheets
Carr's Group plcAnnual Report and Accounts 2021 | 1 |
Overview
Our Group
Speciality Agriculture
Speciality Agriculture comprises our feed blocks, mineral supplements and animal health businesses in the UK, Europe, North America, and New Zealand.
Agricultural Supplies
Agricultural Supplies comprises our Carr's Billington branded agricultural stores, machinery, fuel and compound feed business, and our joint venture business Bibby Agriculture.
Engineering
Engineering comprises our businesses across the UK, Europe and USA which manufacture complex equipment and remote handling products, and supply specialist technical services, to customers predominantly in nuclear, defence, and oil and gas industries.
2 Carr's Group plcAnnual Report and Accounts 2021
Highlights
Financial | Commercial and strategic | ||||||||||
£417.3m | 5.00p | • Results ahead of Board's improved | |||||||||
expectations, despite COVID-19 and oil | |||||||||||
price volatility | |||||||||||
• Substantial increase in profitability of | |||||||||||
Revenue | Dividend Per Share | both Agriculture divisions: | |||||||||
£395.6m | 4.75p | ||||||||||
− Strong performance in Speciality | |||||||||||
2020 | 2020 | ||||||||||
£403.9m | 4.75p | Agriculture assisted by livestock | |||||||||
2019 | 2019 | ||||||||||
prices in the UK and USA | |||||||||||
− Successful year in Agricultural | |||||||||||
£17.6m | £13.0m | Supplies with feed volumes, | |||||||||
machinery revenues, and retail sales | |||||||||||
all improved | |||||||||||
• Engineering adjusted operating profit | |||||||||||
marginally higher, despite lower oil | |||||||||||
Adjusted Operating Profit* | Reported Operating Profit | prices and COVID-19 impact in Q1 | |||||||||
£16.3m | £12.3m | • Year-end Engineering order book 15.9% | |||||||||
2020 (restated)** | 2020 (restated)** | higher than prior year | |||||||||
£19.0m | £16.0m | • Very strong cash and net debt position | |||||||||
2019 (restated)** | 2019 (restated)** | ||||||||||
• Board remains confident in prospects | |||||||||||
of all divisions | |||||||||||
£16.6m | £12.1m | ||||||||||
Adjusted Profit Before Tax* | Reported Profit Before Tax | ||||||||||
£15.0m | £10.9m | ||||||||||
2020 (restated)** | 2020 (restated)** | ||||||||||
£18.1m | £15.1m | ||||||||||
2019 (restated)** | 2019 (restated)** | ||||||||||
13.2p | 8.3p | ||||||||||
Adjusted Earnings Per Share* | Basic Earnings Per Share | ||||||||||
12.0p | 9.1p | ||||||||||
2020 (restated)** | 2020 (restated)** | ||||||||||
14.6p | 12.1p | ||||||||||
2019 (restated)** | 2019 (restated)** |
- Adjusted results are consistent with how business performance is measured internally and are presented to aid comparability of performance.
- See note 36 for details of the prior year restatement in respect of the IFRIC agenda decision in April 2021 on cloud configuration and customisation costs.
GovernanceReport Strategic
Information Shareholder Statements Financial
Carr's Group plcAnnual Report and Accounts 2021 | 3 |
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Disclaimer
Carr's Group plc published this content on 07 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 December 2021 08:17:02 UTC.
