July 20, 2010
Double boost from UK cold winter lifts Carr's shares
Shares in Carr's Milling Industries jumped by nearly 6% after the flour-to-feeds group said that a double boost from the UK's cold winter had driven its performance above market expectations.
The group said earnings for the year to early September were on track to come in "well above" last year's result after a "strong" performance during the spring. The improvement reflected a jump in demand for feed, as prolonged cold weather caused livestock farmers to delay turning animals out to pasture.
As a second fillip, its fertiliser operations also benefited as livestock farmers prioritised pasture fertility, in an effort to ensure they meet next winter with adequate hay and other fodder in store.
Meanwhile, the group's shares closed up 6.1% at 520 pence in London.