NWF on track for strong first half

CHESHIRE-based NWF Group, the specialist agricultural and distribution business, says profits for the half year to November 30 are expected to be ahead of the £2.3m it achieved in the first half of the last financial year, and are in line with expectations.

The Wardle-based company’s feeds division has traded well in the first half. NWF recently announced a deal to buy SC Feeds  an 80,000 tonne ruminant feed producer based in Staffordshire, in line with its strategy of increasing investment in agriculture.

Food has performed as planned with the completion of the move of customers from the Deeside facility into its Wardle site, which has remained full during the first half of the year. In addition long-term contracts have been signed with major customers, underpinning the business’ future volumes.

The fuels division has performed well in the first half too, with the group focusing on commercial business during a period of lower demand for heating oil. Oil prices have been helped by the strength of sterling, which has offset any increases in the dollar based Brent Crude.

NWF will announce its interim results on February 4 2014.