Wynnstay Group (WYN) Trading Update summary

Trading performance and financial outlook

• FY24 results will be materially lower than market expectations and last year, due to challenging conditions in key months.

• Feed division underperformed, with lower volumes, especially in poultry feed, expected to persist.

• Fertiliser blending at Glasson Grain saw improved operations but suffered from falling margins and reduced volumes due to cautious farmer purchasing and adverse weather.

• Other arable activities met expectations; Specialist Merchanting modestly outperformed prior year despite constrained farmer spending.

• Joint Ventures contributed less than last year's record but were in line with expectations.

Strategic focus and future outlook

• Maintains strong market position, balance sheet, and cash flows.

• Expects improved outlook for livestock and dairy sectors, anticipating better financial performance in FY25.

• Will continue operational improvements, efficiency drives, and investment for future growth.

• Next trading results for FY24 to be announced towards end of January 2025, with further trading update at that time.