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NWF Group PLC - Nantwich, England-based agricultural feed, food and fuel distributor - Trading in first quarter ended August 31 of the current financial year is ahead of the prior year and in line with management expectations.
The Fuels business has traded in line with expectations due to increased level of commercial demand, Food has been ahead of management expectations due to robust demand from all sectors. However, Feeds volumes are lower due to reduced levels of merchant business and good forage conditions, leading to a weaker performance.
Notes that it has not been "negatively impacted" by the concerns around the availability of drivers.
"The board's outlook for the financial year remains in line with its previous expectations. We continue to have confidence in the group's future prospects and to target development opportunities supported by our strong balance sheet and banking facilities," NWF states.
Current stock price: 196.00 pence, up 3.2%
Year-to-date change: up 0.5%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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