3rd Feb 2026 15:17
(Alliance News) - NWF Group PLC on Tuesday reported a decline in interim revenue and profit, but kept its full-year expectations unchanged and expressed optimism around its growth potential and prospects.
The Cheshire, England-based fuel, food and feed distributor reported GBP900,000 in pretax profit for the six months that ended November 30, down 57% from GBP2.1 million a year earlier.
Revenue fell 4.3% to GBP434.6 million from GBP454.3 million, with this primarily attributed to the lower oil price in Fuels offsetting the contribution from acquisitions.
Fuels revenue fell 5.4% to GBP295.9 million from GBP312.8 million, with NWF noting the impact of lower commercial and domestic volumes alongside the lower oil price.
Volumes in this segment fell 2.4% to 323 million litres from 331 million litres, but were down 11% on a like-for-like basis. NWF said this reflected the low level of market demand.
Food revenue grew 5.2% to GBP46.2 million amid higher storage volumes and increased throughput, noted NWF. However, it added that Feeds revenue fell 5.2% to GBP92.5 million, amid lower commodity and therefore selling prices.
The company declared an interim dividend per share of 1.0 pence, flat from the prior year.
Looking ahead, NWF said its full-year trading expectations from November remain unchanged. In November, the company said it sees results for the financial year to May 31 coming in "significantly below market expectations".
At the time of that update, NWF noted company compiled full-year analyst consensus of GBP17.9 million in headline operating profit and GBP13.2 million in headline profit before tax.
For financial 2025, NWF reported GBP16.3 million in headline operating profit and GBP13.2 million in headline pretax profit.
Shares in NWF were trading 3.2% higher at 139.34 pence on Tuesday afternoon in London.
"Market conditions during the first half of the year resulted in a challenging environment for our Fuels business, whilst we are seeing the benefits from the investment and growth initiatives carried out in recent years within Food and Feeds. We are now experiencing the increased demand for domestic heating oil, albeit later in the financial year than usual, prompted by the colder weather, and we expect domestic demand levels to normalise through the winter months," said Chief Executive Chris Belsham.
"The group's financial position is strong and the board remains confident in NWF's growth potential and prospects. Our full year expectations remain unchanged."
By Christopher Ward, Alliance News reporter
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