12th Dec 2018 11:48
LONDON (Alliance News) - NWF Group PLC on Wednesday expressed confidence in delivering its annual expectations on strong performance by its Food and Feeds divisions.
The distributor of petrol, heating oil, agricultural produce and animal feed across the UK said it expects its trading in the six months to the end of November to be ahead of prior year.
On a divisional basis, in Fuels unit, NWF reported lower demand for heating oil due to the recent warm summer months. There also was strong competition in the diesel and gas oil markets, NWF noted.
Meanwhile, the Food segment, continued to see success in winning new business, NWF highlighted.
The Feeds division saw strong demand over the summer, NWF said, as grazing was limited due to the very dry spell, which led to higher feed rates across the UK. The business also benefited from investment made in prior years, it said.
NWF said it intends to publish its interim results on January 29.
The stock was trading 2.7% higher on Wednesday at 173.00 pence a share.
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