Last close As at 05/08/2026
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GBP69m
Research: Industrials
Carr’s Group has announced a fully refreshed executive team, none having been in-situ at the start of 2023. This will enable the executives to have an uninhibited view of the operations, enabling the development and implementation of a strategy reflecting the different opportunities and challenges facing the Engineering and Speciality Agriculture divisions.
Carr’s Group |
A new team to take the group forward |
Leadership changes |
General industrial |
13 November 2023 |
Share price performance
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Analyst
Carr’s Group is a research client of Edison Investment Research Limited |
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Carr’s Group has announced a fully refreshed executive team, none having been in-situ at the start of 2023. This will enable the executives to have an uninhibited view of the operations, enabling the development and implementation of a strategy reflecting the different opportunities and challenges facing the Engineering and Speciality Agriculture divisions.
Year end |
Revenue (£m) |
PBT* |
EPS* |
DPS |
P/E |
Yield |
08/21** |
120.3 |
10.4 |
10.1 |
5.0 |
11.4 |
4.3 |
08/22 |
124.2 |
11.2 |
10.0 |
5.2 |
11.5 |
4.5 |
08/23e |
145.2 |
8.0 |
6.7 |
5.2 |
17.2 |
4.5 |
08/24e |
151.0 |
9.7 |
7.8 |
5.3 |
14.8 |
4.6 |
Note: *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments. **Restated to treat Agricultural Supply as a discontinued business.
David White, chief financial officer since January 2023, is to be appointed group chief executive officer, following an orderly hand over from Peter Page, who will leave the company on 17 November. David joined the company in January 2023 and has experience in international senior leadership, operations and finance roles at Aggreko.
Gavin Manson has been appointed chief financial officer. He has previously held a number of executive and non-executive roles across both public and private companies, including chief financial and operating officer of Electra Private Equity (2016–22), finance director of Thomas Cook Tour Operations (2014–16) and group finance director of Premier Farnell (2009–13). He was also a non-executive director and non-executive chairman of Hostmore (2022–23). Gavin will not initially be appointed to the board but will attend board meetings by invitation.
Martin Rowland has been appointed executive director of transformation. He has been a non-executive director of Carr’s since March 2023, pursuant to the relationship agreement the company entered into with Harwood Capital Management, a significant shareholder, with 13.6% on 29 September according to the RNS. This appointment reflects the need to integrate the Engineering division operations and enact a turnaround in the Speciality Agriculture division. Martin has experience in a variety of investment roles as well as holding operational and strategic positions in mid-size and large corporates. The changing nature of Martin’s role will not affect the relationship agreement, which will remain in place.
Full year FY23 results and an update on execution of the strategy are due to be released in December.
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Research: Industrials
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