Wynnstay, the agricultural and retail group with operations in Shropshire, Staffordshire and Warwickshire, said sales were in line with budget and it remained optimistic about the outcome for the current financial year.
The company said the start had been "encouraging" with a recovery in its fertiliser sales - ten per cent ahead November to February over the same period a year ago.
Wynnstay said the integration of Glasson Grain, acquired last August in a £38 million deal, was progressing well and the business was on track to be earnings enhancing in the current year.
Based in Lancaster, Glasson had added considerably to fertiliser volumes.
Wynnstay also said managing director Bernard Harris would retire in May 2008 after 28 years with the business.
The hunt for his successor has begun.
Chairman John Davies told the annual general meeting: "Over the course of the last financial year, we continued to make further progress in our business development strategy, despite challenging market conditions.
"Our investments place the group in a stronger position for the future and, more immediately, to benefit fully from improving market conditions."
Besides acquisitions Wynnstay has seen an ongoing store refurbishment programme.
And the launch of a new stand-alone pet store format, Just for Pets, targeting the fast growing pet products market, is imminent.
The first of the new stores remains on course to be opened in Telford in April, with a further two planned during the year. In January Wynnstay announced a slip in pretax profit.
