NWF Group PLC Trading Update (3371R)
June 14 2018 - 2:00AM
UK Regulatory
TIDMNWF
RNS Number : 3371R
NWF Group PLC
14 June 2018
14 June 2018
NWF Group plc
NWF Group plc
Year End Trading Update
Notice of Results
NWF Group plc ("NWF" or "the Group"), the Fuels, Food and Feed
specialist distribution business, today announces a trading update
for the financial year ending 31 May 2018 and its notice of
results.
Trading update
The Group is pleased to report that trading for the financial
year ended 31 May 2018 was significantly ahead of current market
expectations and the prior year.
-- The Fuels division had an excellent year, delivering
outstanding service to customers across the country and performing
particularly strongly in the cold extended winter conditions.
-- In Food, the business has been challenged by the on-take of
significant new business, recruitment of new staff and the
reorganisation required to accommodate new customers at the Wardle
site. Performance has therefore been lower than anticipated as new
customers and employees bed in.
-- In the Feeds division, performance has improved as
anticipated due to the delivery on the investment made in prior
years and improved trading conditions in the dairy market, where
farmers are benefiting from improved milk prices.
-- Net debt is lower than the Board's expectations and reflects
the strong trading and further improvements in working capital
management.
Notice of results
NWF will announce its final results for the year ended 31 May
2018 on Tuesday 31 July 2018.
A meeting will be held for analysts at 9.30 a.m. on the day of
the results announcement at MHP Communications, 6 Agar Street,
London, WC2N 4HN.
Richard Whiting, Chief Executive of NWF Group plc said:
"NWF has delivered an outstanding performance reflecting the
focus on service across the Group, particularly from the Fuels
business during the challenging winter conditions experienced
earlier this year. It is also positive to demonstrate a return on
the investment made in the prior year and to report a lower level
of net debt."
For further information please visit www.nwf.co.uk or
contact:
Richard Whiting, Chief Reg Hoare Justin Jones /
Executive Chris Belsham, MHP Communications Mike Bell
Finance Director Tel: 020 3128 8100 Peel Hunt LLP
NWF Group plc (Nominated Adviser)
Tel: 01829 260 260 Tel: 020 7418 8900
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTDMGMVNFFGRZM
(END) Dow Jones Newswires
June 14, 2018 02:00 ET (06:00 GMT)
Nwf (LSE:NWF)
Historical Stock Chart
From Mar 2024 to Apr 2024
Nwf (LSE:NWF)
Historical Stock Chart
From Apr 2023 to Apr 2024