Last checked at 17 Dec 2013 07:00
NWF Group plc
NWF Group plc ('NWF' or 'the Group')
NWF Group plc: Trading update and Interim results date
NWF Group plc, the specialist agricultural and distribution business, is pleased to announce that profit before tax for the half year to 30 November 2013 is anticipated to be ahead of the comparative period in the prior year and is in line with the Board's expectations.
The Feeds division has traded well in the first half with a continued focus on meeting the needs of farmers who have experienced better silage production than in the prior year and benefited from improved milk prices. As recently announced, the Group has completed the acquisition of SC Feeds Ltd, an 80,000 tonne ruminant feed producer, in line with our strategy of increasing investment in agriculture.
Food has performed as planned with the completion of the move of customers from the Deeside facility into Wardle, which has remained full during the first half of the year. In addition long-term contracts have been signed with major customers, underpinning the business' future volumes.
The Fuels division has performed well in the first half with a focus on commercial business during a period of lower demand for heating oil. Oil prices have been helped by the strength of sterling, which has offset any increases in the dollar based Brent Crude.
NWF plans to announce interim results for the six months ended 30 November 2013 on Tuesday 4 February 2014.
A meeting for analysts will be held at 10.30 am on the day of the results at Tavistock Communications, 131 Finsbury Pavement, London EC2A 1NT.
For further information please visit www.nwf.co.uk or contact:
Richard Whiting, Chief Executive Brendon Banner, Finance Director NWF Group plc Tel: 01829 260 260
| John West / Andrew Dunn Tavistock Communications Tel: 020 7920 3150
| Justin Jones / Mike Bell Peel Hunt LLP (Nominated Adviser) Tel: 020 7418 8900 |