NWF to report a ‘another record year’

SPECIALIST distribution company NWF Group has said it expects to report a record year of trading for the full year.

Based at Wardle, Cheshire, AIM-listed NWF distributes food, fuel and agricultural feeds nationwide.

It said trading in the year ended May 31, 2010 had been ahead of market expectations, particularly in its fuels division, which had an ‘outstanding’ second half, thanks to the cold winter and increased demand for heating oil.

Increased efficiencies mean the food distribution division is also on course for a record result, it said, while feeds performance improved significantly in the second half, and is now trading in line with expectations for the full year.

A new £51m funding deal has been agreed with Royal Bank of Scotland until October 2013, at similar cost to the previous existing facility.
 
Richard Whiting, chief executive of NWF, said: “The group’s strong trading performance is a reflection of the underlying strength of all three of our operating divisions and we anticipate reporting another set of record results.”

He added: “I am particularly pleased that we have also successfully agreed a new long term facility with our bank on attractive terms.

“This is a critical step in continuing our development as a specialist distributor in the UK.”