Carr's, the Agriculture and Engineering Group, based in Carlisle has reported a positive start to the year with overall performance during the period broadly in line with the board’s expectations.

Speciality agriculture traded as forecast with sales volumes ahead of the prior year, although margins were impacted by raw material price increases. Strong livestock prices are expected to underpin demand for the remainder of the financial year.

Overall trading in the group's agricultural supplies division is on track, with a strong performance from machinery helping to offset the impact of raw material price volatility and a reduction in fuel volumes owing to milder weather.

However, engineering traded behind expectations, but significantly ahead of the prior year driven by a strong performance in fbrication and precision engineering and an improved performance in remote handling and robotics.

Net debt at December 25, 2021 was £27.9m compared to £19.0m on December 26, 2020.

Subject to shareholder approval, the proposed final dividend of 2.65p per share for the year ended August 28, 2021 will be paid on January 26, 2022 to shareholders on the register at close of business on December 17, 2021. The ex-dividend date was December 16, 2021.