NWF to beat profit goals
NWF, the grocery distribution, fuels and agricultural feeds provider, sad today it would “significantly” beat profit forecasts for the year after good performance in all parts of the business.
Shares rose nearly 6% to 88.5p on the news.
In a trading update ahead of its financial year end later this month, Cheshire-based NWF said its strong first half had continued over the “key winter months.”
Chief executive Richard Whiting, said: ‘NWF has continued to perform at record levels throughout the key winter months and in particular the team in the fuels division has delivered an exceptionally strong result.
“The strength of our three trading divisions continues to deliver a good platform to support the future development of the group.”
The AIM-listed company said it had seen good demand for ambient grocery products in its distribution division, which trades as Boughey. Operating efficiency and good customer service, leading to repeat business, was also helping.
In the feeds division, results continue to be good despite tougher trading conditions.
The fuels division is trading at record levels due to several factors: “The strong depot focused management team has performed well during a period of continued oil price falls and volatility.
“This in conjunction with a very cold winter improved both volumes and margins as the business focused on maintaining class-leading service levels whilst competitors pushed out delivery lead times,” the trading statement said.
