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Date: Friday 05 Sep 2008

LONDON (ShareCast) - Bumper trading across all of its divisions has prompted feed supplier and flour miller Carr's Milling to increase its profits estimate for the fourth time this year.

Carr's now expects profit before tax for the year to August will be no less than £12.5m (2007: £5.5m), on revenue of approximately £350m (2007: £253m). In July, Carr's predicted profits of not less than £9.2m on revenue of at least £330m; which it subsequently said in August would be exceeded by a big margin.

A final dividend of 17p is proposed, which will take the total for the year to 23p compared with 19p last time.

The feed firm has also raised £2.7m with a placing at 660p. The new shares represent approximately 4.9% of the company's existing issued share capital.

"We are benefitting from market share gains in both feed and fertiliser, seeing strong underlying trading in our retail business and improved margins in flour. In addition, in 2008 we have benefitted from significant 'one off' inventory and foreign exchange gains totalling £4 million in our Agriculture Division. We enter the new financial year with confidence in underlying trading," chief executive Chris Holmes said.

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