LONDON (Alliance News) - NWF Group PLC, the agricultural and distribution business specialist, Thursday said that its trading performance and net debt has remained in line with its expectations for the first quarter of its new financial year.
The company, involved in the manufacture and sale of animal feeds and the sale and distribution of fuel oils, said that its fuels business has performed well over the summer months, against a backdrop of volatile Brent crude prices.
It said that in its food division, storage levels are slightly higher than expected, and out-loads are in line with the prior year. It also said that the concentration of its consolidation activities at its main group site at Wardle in Cheshire was progressing as planned.
NWF said that its feeds division has managed the volatility in commodity costs, and its focus has remained on providing high quality nutritional advice and sales direct to farmers, who are experiencing better silage and harvest conditions.
The company said it would release its interim results in early February.
NWF Group shares were trading 1.5% lower at 127.52 pence per share Thursday.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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Nwf (NWF)