NWF Group PLC Trading Statement (4982I)
20 June 2017 - 4:00PM
UK Regulatory
TIDMNWF
RNS Number : 4982I
NWF Group PLC
20 June 2017
20 June 2017
NWF Group plc
Year End Trading Update
Notice of Results
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
financial year ended 31 May 2017 and its notice of results.
Trading update
The Group is pleased to report that trading for the financial
year ended 31 May 2017 was ahead of the prior year and in line with
market expectations.
-- In the Feeds division, trading improved in the second half,
albeit the year as a whole was down on the previous year after
being impacted by the later than planned opening of our Northern
feed mill and the previously reported margin pressure from
increasing commodity costs.
-- In Food, the business performed well and ahead of the year
before, efficiently meeting demand for storage and distribution
from customers. Service levels were maintained at 99.7% and the
division is actively seeking additional business to fully utilise
space in 2018.
-- The Fuels division performed well, and in advance of the
previous year, both in developing business at existing depots and
expanding the activity of new depots established in the last two
years.
-- Net debt was in line with the Board's expectations and
reflects the development investment undertaken during the year.
-- The Feeds mill development programme has now been completed
and is expected to deliver its planned benefits. The delayed
opening resulted in some additional exceptional costs being
incurred.
Notice of results
NWF will announce its final results for the year ended 31 May
2017 on Tuesday 1 August 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.
Richard Whiting, Chief Executive of NWF Group plc said:
"NWF has delivered another solid trading performance. Investment
in mill infrastructure in the Feeds division and strong
performances from Food and Fuels have continued the development of
the Group and demonstrate its ability to successfully navigate
volatile economic conditions."
For further information please visit www.nwf.co.uk or
contact:
Richard Whiting, Reg Hoare / Andrew Leach Justin Jones /
Chief Executive / Mike Bell
Chris Belsham, Kelsey Traynor Peel Hunt LLP
Finance Director MHP Communications (Nominated Adviser)
NWF Group plc Tel: 020 3128 8100 Tel: 020 7418 8900
Tel: 01829 260
260
This information is provided by RNS
The company news service from the London Stock Exchange
END
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