Agriculture firm keeps on track

AGRICULTURE group NWF has seen profitability improve in its feeds division over the last year, depite continued pressures in the dairy market.

Nantwich-based NWF  said in a stock market update that trading for the year to the end of May had been in line with expectations, despite further reductions in milk prices and volatility in key commodities.

Acquisitions during the year of New Breed and Jim Peet Agriculture into the Feeds division have been integrated and are performing well, it added.

In Food, the business remained at capacity throughout the year and delivered further improvements in operating efficiency and profitability.

The Fuels division increased volumes, even though demand for heating oil was reduced due to the warm winter weather, impacting profitability. Staffordshire Fuels, which was acquired during the year, has also been fully integrated, it added.

Richard Whiting, chief executive of NWF Group, said: “NWF delivered another robust trading performance last year. Significant progress has been made in the strategic development of the group, with three acquisitions completed and all performing well, and a significant capital expenditure programme.

“Market conditions remain tough, but NWF continues to grow and invest in developments supported by its strong cash flow.”