Long winter boosts profitability for NWF

NWF, the Cheshire-based food, agricultural feed and fuel distributor, has reported strong trading for winter and early spring and expects its full year results to be ahead of expectation.

 

The feeds division has traded strongly as prolonged cold weather, resulting in the late turn out of dairy herds, has caused an increase in demand for feed from farmers. It added there has also been a sharp increase in demand for sheep feed. 

 

The company’s fuel division has also benefited from the  country’s cold weather, with continued high levels of demand for heating oil. Recent falls in oil prices across all fuel categories have also helped support margins, it said in a trading update.

 

Richard Whiting, chief executive said: “NWF has delivered a very strong performance during the key trading period in the year. The continued focus on providing a high level of service across the group has been rewarded by customers choosing NWF to supply their requirements. 

“Whilst the outperformance of the group is as a result of specific market conditions, it is pleasing to deliver this significant improvement in profitability”.