27th Sep 2018 15:20
LONDON (Alliance News) - Fuel and food distributor NWF Group PLC said on Thursday that trading for the first quarter of its financial year has been in line with management expectations and the same period the year before.
The first quarter ended on August 31.
NWF's Fuels division saw some impact from reduced market demand for heating oil due to a warm summer and higher competitive pressure on road diesel and gas oil.
Food trading was in line with expectations, due to new customers, as well as improvements in its warehouse and distribution operations.
In the Feeds division, the business benefited from increased demand as farming customers were hit by a lack of forage during the dry summer, which led to increased feed usage.
NWF's outlook for the year to the end of May 2019 remains in line with expectations, it said, and the company will continue to focus on development opportunities through organic growth and targeted acquisitions.
Shares in NWF Group were down 3.3% at 190.00 pence on Thursday.
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