Carr’s Group (LSE: CARR)

Currency in GBP

Last close As at 25/01/2023

GBP1.22

5.50 (4.74%)

Market capitalisation

GBP109m

Carr’s Group’s Speciality Agriculture division serves farmers in the UK, Ireland, the United States, Germany, Canada and New Zealand with feed blocks and feed supplements. The Engineering division offers remote handling equipment and fabrications to the global nuclear and oil and gas industries.

There will be a delay to the publication of the group’s audited FY22 results because a separate audit of the associate that was sold as part of the disposal of the group’s Agricultural Supplies division is now required for independence reasons.

Sector

Industrials

Equity Analyst

Anne Crow

Anne Margaret Crow

Director, TMT & Industrials

Key Management

  • David White

    CFO

  • Peter Page

    Chairman

Balance Sheet

Forecast net debt (£m)

33.2

Forecast gearing ratio (%)

23

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 3.9 27.9 (24.1)
Relative 4.0 16.8 (22.7)
52 week high/low 160.0p/92.0p

Financials

The recent trading update from Carr’s Group notes that FY22 performance (year ended 3 September 2022) was in line with management expectations and ahead of FY21. Trading so far in FY23 has been in line with management expectations and ahead of FY22.

Y/E Aug Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2020A 395.6 23.4 15.0 11.8 10.3 4.8
2021A 417.3 23.9 16.6 13.0 9.3 4.7
2022E 474.6 24.8 17.3 12.5 9.7 4.6
2023E 138.2 18.0 10.5 8.7 14.0 6.3

Thematics

Consumer

IPO apocalypse

TMT

ESG, moving beyond the box tick

Industrials

The emergence of mega-constellations

Industrials

Internet in the sky

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