Carr's Group - Demand and balance sheet resilience

As flagged in January, Carr’s Group’s UK agricultural activities have been adversely affected by the mild winter. In addition, the Engineering division had a slow start to the year because of contract phasing. Both the group’s divisions appear relatively unaffected by the COVID-19 pandemic, so we leave our estimates unchanged for now following the downwards revision we made last month reflecting a delay in major engineering orders and unrelated to the coronavirus outbreak.