Carr's Group – “Trading update and Name change”, bank rest of profits

Previously on 133p offer price tip agriculture group Carr's (CARR), in May we suggested tendering all shares at 163p offered. There was overall 55,419,051 shares tendered with the tender offer being for up to 42,944,785 shares – stated to be 45.4% of the share capital. What about the remainder, with the shares at 148p on the back of a “Trading update and Name change” announcement?

Carr's (#CARR) – Josh Hoopes appointed CEO, with David White having “stepped down”

Carr's Group – “Proposed Tender Offer”, to realise more than 22% gains on this winning share tip?

An April last year at a 133p offer price tip, Carr's Group (CARR) has announced that “following completion of the sale of the Engineering Division, the company is pleased to announce the launch of the Capital Return by way of a tender offer” at 163p per share. So what’s the details of this?

Carr’s (#CARR) – agreement to sell UK and US engineering businesses for £75m and intends up to approx. £70m tender offer

Carr's (#CARR) – FY adj. EPS 2.6p, DPS maintained, emphasises “refreshed Agriculture strategy”

Carr's (#CARR) – FY “broadly in line with board expectations”, “asset realisations are progressing as planned”

Carr's Group – a continuing performance and M&A activity Buy?

Agriculture and Engineering group Carr’s (CARR) recently announced results for its half-year ended 29th February 2024 and we consider that they suggest attractive upside potential from a 133p offer price for the shares, £125.5 million market capitalisation. Here’s why…

Carr's (#CARR) – H1 adj. EPS -4% to 4.8p, DPS up to 2.35p, process to “maximise shareholder value” from Engineering division

Carr's (#CARR) – FY adj. EPS down to 6.2p, DPS maintained at 5.2p, “trading conditions in agriculture remain challenging”

Carr's (#CARR) – management changes including CFO David White to be appointed CEO. Peter Page, CEO, to leave this week

Carr’s – trading update emphasises the order book and swing to net cash, But…

A trading update from Carr's Group (CARR) includes “the order book has reached a record level, finishing the year at £63m (August 2022: £41m)” and that it “closed the year with net cash (excluding leases) of £4.2m (FY22 continuing group: net debt of £14.0m)”. So what of a share price currently little changed on the day at around 130p and down from around 150p early in the summer?

Carr's (#CARR) – FY profit below prior year, “conditions in Speciality Agriculture continue to be challenging”

Carr's (#CARR) – ‘agrees’ with CEO Peter Page that he will not seek re-election at next AGM, expected to be in January

Carr's (#CARR) – Speciality Agriculture trading “challenging”, Engineering division “high activity levels”

Carr’s Group – interims, still a ‘strong prospects’ BUY!

Agriculture and engineering group Carr’s (CARR) has announced its results for its half-year ended 4^th March 2023 and that it “anticipates full year adjusted profit before tax of c.£10m and remains confident in the prospects of both divisions in the medium term”.

KPMG in the FRC dock yet again – but does anybody care?

Your starter for 10: When was audit firm KPMG last fined and reprimanded by the accountancy watchdog, the Financial Reporting Council (FRC)? The answer is: Five days ago. The previous slap on the wrists was last July. And today we learn that another enquiry is under way, into the 2021 audit of Carr’s Group (CARR). As far as I can see KPMG has a season ticket at the FRC but does anyone care?

Carr's (#CARR) – FRC commences investigation into year ended 28th August 2021 audit by KPMG

Carr's Group – full-year results emphasise strong prospects, a Buy?

Agriculture and engineering group Carr's (CARR) has announced delayed results for its year ended 3^rd September 2022, emphasising it is “now focused on higher-margin, differentiated, international Speciality Agriculture and Engineering businesses with strong growth prospects” and its shares have been restored to trading.

Carr's (#CARR) – board changes including CFO Neil Austin “stands down”, David White joins as CFO and Tim Jones joins as Chair

Carr's (#CARR) – FY update, trading recently more challenging but currently expects this year “in line with its expectations”