NWF Group PLC Trading Statement (1075S)
19 December 2016 - 6:00PM
UK Regulatory
TIDMNWF
RNS Number : 1075S
NWF Group PLC
19 December 2016
NWF Group plc
Trading update and notice of half year results date
NWF Group plc ("NWF" or "the Group"), 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 2016 and its notice of results date.
Trading update
The Group reports that trading for the half year ended 30
November 2016 was lower than the prior year as a result of a weaker
first quarter. Trading has been better in recent months and the
Board maintains its full year expectations in terms of performance
and net debt levels.
-- In the Feeds division, trading was impacted by lower market
demand for ruminant feed, particularly in the first quarter, and a
rapid increase in commodity costs.
-- In Food, the business efficiently met increased demand for
storage and distribution from customers. Service levels were
maintained at 99.7% and the Wardle warehouse remains fully
utilised.
-- The Fuels division was impacted by warm weather and lower
demand for heating oil during the summer and early autumn, although
this has been partially offset by a strong performance in
November.
-- The acquisitions of New Breed, Staffordshire Fuels and Jim
Peet made in the prior year have performed as expected and the mill
expansion plans are being successfully delivered.
Notice of results
NWF will announce its results for the half year ended 30
November 2016 on Tuesday 31 January 2017.
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, Reg Hoare / Andrew Leach Justin Jones /
Chief Executive / Mike Bell
NWF Group plc Kelsey Traynor Peel Hunt LLP
Tel: 01829 260 MHP Communications (Nominated Adviser)
260 Tel: 020 3128 8100 Tel: 020 7418 8900
This information is provided by RNS
The company news service from the London Stock Exchange
END
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