Wynnstay’s profits go up 14pc in wake of expansion

Farm supplies giant Wynnstay today announced a 14 per cent boost in profits at its operation across Shropshire and Mid Wales. The company is based near Oswestry.

It said it has seen revenue in its agricultural division grow by 19 per cent to £154.79 million on the back of an ambitious expansion drive.

The firm, which took over grain dealer Wrekin Grain last year and has also been expanding its range of pet shops Just For Pets to 20, said profits before tax were £4.52 million.

Wynnstay has stores in Market Drayton, Astley, near Shrewsbury, Newport, Oswestry, Pontesbury, Craven Arms, Leominster, Welshpool, Llansantffraid, Newtown, Llanfair Caereinon and Llanidloes, as well as Just For Pets stores in Wellington and Ketley.

The firm also saw revenues rise in its specialist retailing division by 12 per cent to £38.7 million.

Overall revenue rose 18 per cent to £193.7m, with around £23.8m coming from higher sales in the new GrainLink business following the acquisition of Wrekin Grain.

Chief executive Ken Greetham said: “The growth reflects the benefits of past acquisitions, most recently Wrekin Grain in May 2011 as well as continuing organic expansion.

“The pleasing performance from Wynnstay Stores is driven by ongoing high levels of non-discretionary spend by farmers.”