Companies: CRM   

Carr's has pulled itself up from last year's £1.8m losses to deliver post-exceptional pre-tax profits of £3.3m, on static turnover of £97m. The group is structured around three divisions. Agriculture, still Carr's main focus, manufactures animal feeds and fertilisers. Chief executive Chris Holmes maintains that this business is performing well despite the 'sorry state of British agriculture'. As a consequence, Carr's is expanding its feed block division both abroad and at home and, to reduce reliance on agriculture, tailoring these products for the leisure markets, such as horse feed. The group's flour production, which accounts for just under 20% of revenues, is sold to bakeries and supermarkets, under own brand and private labels. The group's engineering activities concentrate on three areas: petrol-chemical, nuclear and animal feed business, though Holmes admits that the effects of the strong pound are being felt. A final dividend of 5p was announced, bringing the total to 8p (5p). House broker Charterhouse Securities is forecasting pre-tax profits of £2.45m for the current financial year.