NWF makes solid start

FARM feed, food and fuel distributor NWF Group says it has made a solid start to trading in the first three months of its new financial year.

The Cheshire company, which is holding its annual meeting later today, says the three divisions are performing “in line with management’s expectations”, as is the case with the net debt position.

Looking at each unit, chairman Mark Hudson said the Feeds division has “managed effectively” the increases in commodity costs caused by poor harvests by implementing necessary price rises.

“Much publicised milk price reductions planned for August 2012 by dairies were withdrawn and the limited increases now being announced are giving some relief to farmers,” he said.

In the Boughey food and warehousing business,  the focus is on becoming more efficient through new systems and processes.

Mr Hudson said NWF’s Fuels business performed “as planned” across the summer months whilst the price of Brent crude remains “volatile”.