Audit Timing and Trading Update

Carr's (CARR.L), the Speciality Agriculture and Engineering group, announces an update on the timing for the completion of its statutory audit and provides a trading update.

Audit Timing

Further to the Group's announcement on 26 January 2023, completion of the Group's statutory audit has been extended. Field work is essentially complete, with the Company and its auditor Grant Thornton UK LLP ("GT") currently concluding a small number of supplementary information requests to close out routine testing. Final auditor internal review and quality checks have commenced already.

GT and the Company will complete and release the audited results for the financial year ended 3 September 2022 (the "Results") not later than Monday 27 February 2023.

The Group expects to report the Results in line with previous guidance.

Trading Update

Trading in the early part of the current financial year was strong, but became more challenging in November and December 2022, with lower volumes of feed blocks sold in both the USA and UK markets related to weather conditions, and competitive pricing for tenders in the engineering division. Notwithstanding these challenges, the Board remains of the view that trading for the full year continues to match management expectations and a further update will be provided at the half year. 

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