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Carr's Milling

May 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • CRM
  • Price:
  • 1850p
A solid enough interim statement from Carrs, reinforcing the positive noises made in its February trading update.  Consequently, against the high water mark of last year (when due to the inclement weather Carrs had seen soaring demand for feedstocks from UK farmers) there was only modest progress with pretax profit for the first six months up just 2% to £10.1m for flattish eps of 78.1p. Whilst Carrs UKˆagicultural sales were down, in the US, conditions were so severe that demand was at record levels and sales were helped by a first contribution from the new UK AminoMax site (Lancaster) and additional capacity at the US plant. The newer factory development for the JV in Sioux City commences production in June.    On the food ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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