NWF Group PLC Acquisition and notice of final results (4242G)
19 July 2023 - 4:00PM
UK Regulatory
TIDMNWF
RNS Number : 4242G
NWF Group PLC
19 July 2023
For release 07.00 a.m. Wednesday 19 July 2023
NWF Group plc
NWF Group plc: Acquisition and notice of final results
NWF Group plc ('NWF' or the 'Group'), the specialist distributor
of fuel, food, and feed across the UK, today announces a bolt-on
acquisition within its Fuels division and provides notice of its
final results for the year ended 31 May 2023.
Acquisition of Geoff Boorman Fuels
NWF announces it has acquired the trade and assets of Geoff
Boorman Fuels from Geoff Boorman Fuels LLP, which represents the
second fuels acquisition in the last 12 months. This is in line
with the Group's strategy to grow the fuels distribution business,
in which the Group is the third largest player in the UK.
Geoff Boorman Fuels is a nineteen million litre fuel distributor
based in Edenbridge, Kent with a largely domestic customer base.
The acquisition complements Home Counties Fuels, the Group's Kent
based commercial fuel distribution operation thereby supporting the
Group's development in the South-East. The acquisition is expected
to be accretive to underlying earnings of the Group, and the GBP2.6
million consideration has been paid in cash on completion from
NWF's existing cash resources.
NWF's growth strategy is to both expand the geographic coverage
of the fuels business within the UK and consolidate businesses
adjacent to the existing depot network. NWF's acquisition of
Sweetfuels Limited (announced on 22 December 2022) has been
integrated as planned and is performing well.
Notice of final results for the year ended 31 May 2023
The Company will announce its final results for its financial
year ended 31 May 2023 on Tuesday 1 August 2023.
A meeting will be held for analysts at 9.30 a.m. on the day of
the results announcement at MHP, 60 Great
Portland Street, London W1W 7RT . Please contact MHP for further details at nwf@mhpgroup.com .
Information for investors, including analyst consensus
forecasts, can be found on the Group's website at www.nwf.co.uk
.
Richard Whiting, Chief Executive Reg Hoare / Catherine Chapman / Christian Harte Mike Bell / Ed
Chris Belsham, Group Finance Director Allsopp
NWF Group plc MHP Peel Hunt LLP
(Nominated Adviser
and broker)
Tel: 01829 260 260 Tel: 020 3128 8339 Tel: 020 7418
8900
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END
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