Last checked at 13 Dec 2012 07:00
NWF Group plc
13 December 2012
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 trading for the half year to 30 November 2012 has been in line with the Board's expectations and that debt levels are lower than anticipated.
Profit before taxation for the six months ended 30 November 2012 is anticipated to be ahead of the comparative period in the prior year.
Net debt is expected to be significantly lower than at the same point last year reflecting the result of more effective working capital management across the Group.
The Feeds division has traded ahead of expectations with the business effectively managing the significant increases and volatility of commodity prices by focusing on direct business with farmers.
Food has performed slightly behind expectations as the take-on of new customers is slower than planned and the activity level of existing customers has been lower than anticipated in a tough market environment.
The Fuels business has performed better than anticipated in the first half as a result of a return to more normal trading, increased demand for heating oil with the onset of some seasonal winter conditions, a lower cost base and rationalised tanker fleet.
NWF plans to announce interim results for the six months ended 30 November 2012 on Tuesday 29 January 2013.
A meeting will be held for analysts 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 ExecutiveBrendon Banner, Finance DirectorNWF Group plcTel: 01829 260 260 | John West /Andrew DunnTavistock CommunicationsTel: 020 7920 3150 | Julian Blunt / Mike BellPeel Hunt LLP(Nominated Adviser)Tel: 020 7418 8900 |