NWF ends year on a high
NWF Group, the Cheshire company specialising in agricultural feed, fuel and food warehousing and distribution, has ended the financial year on a high.
The Wardle-based company says its results for the year to May 31 will come in “slightly” higher than the board had expected.
It also said it had a boosted its agriculture division with the bolt-on acquisition of a Lancashire-based business called New Breed (UK) Ltd, a nutritional advisory business based in Lancaster.
NWF said New Breed supplies more than 45,000 tonnes of feed to farmers per annum and works with customers in the North West and in Scotland.
It added: “The business, which will be run as a stand-alone part of the group, will continue to be led by its experienced management team and is expected to be immediately earnings enhancing.”
By division, NWF said despite falls in domestic milk prices and volatility in commodity prices putting margins under pressure, its Feeds divisions had seen profits recover in the second half with volumes remaining “robust”.
In Food, the group said the warehouse had remained at full capacity throughout the year and its focus was on on driving efficient operations.
The Fuels division has continued to perform strongly, benefiting from the fall in oil prices, an improved mix due to the sale of premium products and the more normal winter conditions and demand for heating oil post Christmas.
