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Agriculture and engineering group Carr's said its performance in the year-to-date was broadly in line with its forecasts, even as its engineering division traded below expectations.
In an AGM trading update for the 20-week period ended 15 January, Carr's said speciality agriculture traded in line with sales volumes up, although margins were impacted by raw material price increases.
Overall trading in the agricultural supplies division was on track, where a strong performance from our machinery business helped to offset the impact of raw material price volatility and lower fuel volumes.
Engineering traded behind the board's expectations, but significantly ahead of the prior year driven by fabrication and precision engineering and an improved performance in remote handling and robotics.