Good end to the year boosts fuel and feed firm
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Food and feed specialist NWF say that overall trading is expected to above expectations following a strong end to the year.
The Cheshire based firm issued a trading update this morning.
The company said overall trading for the financial year ended is expected to be above market expectations.
The strong performance was linked to good results across the depot network and effective management of a volatile oil price.
The results are anticipated to be ahead of expectations, despite the milder winter, but behind the record prior year.
The company completed two fuel acquisitions in the year, one in the Midlands complementing existing business in the area, and one expanding our geographical reach in the South West.
Net debt was in line with the board’s expectations at the year end (well below 1.0x Net Debt/EBITDA) and includes the cost of the two acquisitions made during the year.
NWF will announce its final results for the year ended on Tuesday 30 July.
Chief executive Richard Whiting said: “We finished the year strongly resulting in a performance ahead of our original expectations.
“There were solid contributions and encouraging performances within all three divisions, which reflected the benefit of ongoing performance improvement actions taken and acquisitions completed in recent years.
“We entered the new financial year in good shape with strategic progress continuing.”