Wynnstay has reported an excellent year of trading over its financial year ending 31 October 2017, for both its agricultural and specialist retail divisions.

Revenues from continuing operations rose by 10.5% to £390.72m. Profit before tax from continuing operations increased to £7.66m, however the results were impacted by the administration of Just for Pets Limited in October.

Ken Greetham, Wynnstay chief executive said: “The recovery of farm output prices last year drove a greater sense of optimism across the agricultural sector, which is reflected in the success of our core trading business over the past 12 months.

“Our agricultural business delivered a significantly improved performance year-on-year, reflecting better trading conditions for our farmer customers, with milk and other farm output prices recovering from the depressed levels of the last two years."

Results show the agricultural division has performed well, with operating profit up 11% to £3.34m, which is attributed to a significantly improved trading backdrop.

The specialist retail division saw revenue from continuing operations of £109.73m and operating profit up 6.0% to £4.74m.

“Our results as a whole were impacted by Just for Pets Limited in relation to charges associated with the administration process, which reduced the overall profit before tax to £1.15m. However, this decisive action helped to minimise the potential adverse effect on both creditors and employees, preserving most jobs,” said Mr Greetham.

The latest figures released come as Wynnstay marks its 100th anniversary.

“We look forward to celebrating 100 years in the industry throughout 2018 and will be marking the occasion with a number of events and initiatives for Wynnstay staff, stakeholders and our continually supportive customers,” Mr Greetham said.