UPDATE 1-Carr's Milling says Q1 profit ahead of budget

* Says Q1 profit ahead of budget and last year's actual

* On target for full year despite tough trading conditions

Jan 6 (Reuters) - Carr's Milling Industries Plc (CARS.L), a British agriculture, food and engineering group, said its profit in the first quarter of the current financial year ending Aug. 29, 2009, was ahead of budget.

The company said it remained on target for the full year, despite trading conditions becoming more difficult.

Carr's also said the first-quarter profit at its Food and Engineering businesses was ahead of last year. (Reporting by Usman Merchant in Bangalore; Editing by Pratish Narayanan)