Farming prosperity fertilises Wynnstay growth

Rising commodity prices and the ensuing increase in prosperity of UK farmers helped Wynnstay achieve a sharp rise in annual profits.

The Aim-listed company, which started life as a farmers' co-operative in the first world war, has also driven its planned expansion into the pets market by acquiring just over a week ago a chain of 10 pet superstores in the Midlands for just more than £5m cash.

Bernard Harris, managing director, said the group was excited both by the prospects for the pet retail market, where research showed spending was continuing to rise, and by further benefits expected from the improvement in farm conditions.

Turnover jumped from £110.9m to £157m in the year to October 31, helped by the first full 12-month contribution from Glasson, the fertiliser trading business acquired in 2006.