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Carr’s Milling eyes nuclear growth

AGRICULTURAL and engineering firm Carr’s Milling has reported on mixed fortunes for its numerous divisions after snapping up a £2.5m-a-year Northumberland firm yesterday.

The company this morning said its outlook in the nuclear decommissioning market remains encouraging with a strong order book stretching well into 2011.

The Carlisle company, which today reported on its trading performance in the year ending August 28, also said its food division continues to operate in a challenging market, due to over-capacity and wheat price volatility.

Wheat prices have risen sharply across the world due to unusual weather patterns. Carrs Flour business has mitigated some of the impact of the wheat price rises by covering forward wheat requirements where it has forward flour sale commitments.

Yesterday the firm completed the acquisition of Forsyths of Wooler Limited, based in Wooler, Northumberland.

Forsyths is engaged in the sale of animal feed and proprietary animal health products and represents a bolt-on acquisition which is expected to enhance the group’s product range and customer base in the North of England.

For the financial year ended 31 July 2009, Forsyths reported revenues of £2.5m on which operating profit was £142,000. The total value of net assets acquired is £310,000.

For the financial year ended 31 July 2009, Forsyths reported revenues of £2.5m on which operating profit was £142,000. The total value of net assets acquired is £310,000.

This was posted in Bdaily's Members' News section by Ruth Mitchell .