Carr's profit up 28% as engineering, UK farms businesses stage recovery

Carr's Group posted a better-than-expected 28% rise in first-half profit amid a recovery in its engineering and US agriculture businesses.

Pre-tax profit increased to £10.6m, as revenue rose 13% to £200.1m. Adjusted profit rose 22% to £10.9m.

Carr's declared an interim dividend of 1.075p per share, up 13.2% on-year.

'We are very pleased with the performance of the group during the first half of the year, which slightly exceeded the board's expectations for the period,' chief executive Tim Davies said.

'This strong performance demonstrates the excellent recovery made in our engineering division and builds upon the strategic progress made during the last year.'

At 2:12pm: (LON:CARR) Carrs Group Plc share price was +10.25p at 147.5p