Last checked at 17 Dec 2015 07:00
NWF Group plc
Final for release 7.00 a.m. 17 December 2015
NWF Group plc
NWF Group plc
Trading update and notice of half year results date
NWF Group plc, the specialist agricultural and distribution business delivering feed, food and fuel across the UK, today announces a trading update for the half year ended 30 November 2015 and its notice of results date.
Trading update
The Group reports that trading for the half year ended 30 November 2015 was in line with the prior year and the Board maintains its full year expectations. Net debt will be lower than November 2014.
· In the Feeds division, trading was impacted by lower milk prices as expected and demand in the autumn was reduced due to the mild weather conditions.
· In Food, the business utilised overflow capacity to meet increased demand from customers. Service levels were maintained at 99.7% and the Wardle warehouse remains fully utilised.
· The Fuels division performed better than expected through the summer months, however has yet to benefit from colder conditions and the resultant increased demand for heating oil.
· The recent acquisitions of New Breed and Staffordshire Fuels have performed as expected and are being integrated as planned.
Notice of results
NWF will announce its results for the half year ended 30 November 2015 on Tuesday 2 February 2016.
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.
For further information please visit www.nwf.co.uk or contact:
Richard Whiting, Chief ExecutiveBrendon Banner, Finance DirectorNWF Group plcTel: 01829 260 260 | Reg Hoare /Andrew Leach / Kelsey TraynorMHP CommunicationsTel: 020 3128 8100 | Justin Jones / Mike BellPeel Hunt LLP(Nominated Adviser)Tel: 020 7418 8900 |