Wynnstay Group PLC (WYN.L), a provider of agricultural supplies and services, Tuesday reported profit before tax from continuing operations of 4.40 million pounds for the first half, lower than 5.54 million pounds in the comparable period last year, primarily due to decline in revenue driven by commodity price deflation.
Excluding one-items, adjusted profit before tax decreased to 4.78 million pounds from 5.97 million pounds a year ago.
Net profit was 3.29 million pounds or 13.91p per share, down from 4.32 million pounds or 18.88p per share last year.
Revenue for the period dropped 19.7 percent to 328.49 million pounds from 409.14 million pounds in the previous year.
The company said its net assets increased 2.9 percent year-on-year to 136.3 million pounds with NAV per share of 5.91 pounds.
The Board has declared an interim dividend of 5.6p per share, to be paid on October 31 to shareholders on the register on September 27.
Looking ahead, the company sees full-year results to be in line with market expectations.
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