Wynnstay upbeat on outlook after rise in underlying profits

Wynnstay has reported a rise in underlying profits during a year of operational change, as the agricultural supplies and services group pushed ahead with a major restructuring programme.

The Powys-based company said it enters the new financial year with “strong operational capability and a robust balance sheet”, despite a fall in statutory profit.

For the year ended 31 October, Wynnstay reported pretax profit of £3.5 million, down 15% on the previous year.

However, adjusted pretax profit rose 21% to £9.2 million, reflecting improved underlying performance.

Revenue slipped 4.8% to £583.4 million, but the company said tighter cost control helped protect margins during a challenging trading period.

Wynnstay said the year marked an important step forward under Project Genesis, its programme aimed at simplifying operations, improving efficiency and strengthening execution across the business.

“Through Project Genesis, we set out to reshape the foundations of the business by simplifying our structures, removing inefficiencies, strengthening commercial execution, and creating a more integrated and scalable operating model,” the company said.

The group proposed a higher dividend, with a final payment of 12.1p per share, taking the full-year payout to 17.8p.

Early trading in the new financial year is said to be in line with expectations, with the focus remaining on further margin improvement and efficiency gains.

The company also confirmed Chair Steve Ellwood will step down at the annual general meeting on 24 March, with Senior Independent Director Steven Esom set to succeed him.

Ellwood said the business had made “significant progress” over the past year, while chief executive Alk Brand said Wynnstay was entering 2026 with “a clear strategy” and confidence in delivering sustainable growth.