16th Jun 2022 12:46
NWF Group PLC - Cheshire, England-based agricultural feed, food and fuel distributor - Says has delivered "record year" in line with its trading update in early May, when it had said results for the financial year that ended May 31 were anticipated to be "significantly ahead" of its expectations. NWF doesn't provide figures. On Thursday, it reports an "outstanding" performance from its Fuels arm which is benefiting from short-term volatility in oil prices and a constrained UK supply market. Also notes a strong performance from its Food arm which continues to successfully pass on inflationary customers. Feeds sees "good recovery" in the second half.
Chief Executive Richard Whiting says: "We have delivered a record result driven by high levels of service provided to customers across the Group. The outperformance is principally attributed to the Fuels division where there were both fuel availability issues and significant price volatility. Our depot-based operating model has again proved robust in providing service to local customers, whilst utilising our national supply agreements to ensure we maintain deliveries to all our customers."
Current stock price: 216.00 pence, down 4.4% on Thursday in London
12-month change: up 3.4%
By Heather Rydings; [email protected]
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