‘Exceptional trading’ for listed agricultural business

NWF Fuels

NWF Group, the specialist distributor of fuel, food and feed across the UK, has upgraded its forecasts for the year.

The Cheshire headquartered group said it has continued to experience ‘exceptional trading conditions’ in the Fuels business, with very significant short-term volatility in oil prices and a supply constrained UK fuel market.

In a trading update for the current year ending 31 May 2022, NWF said: “As a result, performance during the final quarter of the year, to date, has been materially stronger than anticipated with the full year result now likely to be significantly ahead of the Board’s previously upgraded expectations.”

Analyst Adrian Kearsey of Panmure Gordon said it raising its FY22 PBT estimate from £16.5m to £20.1m (+22% upgrade).

He said: “NWF, the specialist distributor of fuel, food and feed, continues to enjoy stronger than expected momentum.

“In a third unscheduled trading update since the interim results in February, management has confirmed that the Fuel division continues to outperform and trading in the final quarter has been ‘materially stronger than anticipated.’”

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