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NWF Group maintains FY view after weaker Q1

By BFN News | 07:39 AM | Monday 19 December, 2016


NWF Group reports that H1 trading was lower than the prior year as a result of a weaker first quarter, but has been better in recent months. Directors maintain their FY expectations in terms of performance and net-debt levels. - In the Feeds division, trading was impacted by lower market demand for ruminant feed, particularly in the first quarter, and a rapid increase in commodity costs. - In Food, the business efficiently met increased demand for storage and distribution from customers. Service levels were maintained at 99.7% and the Wardle warehouse remains fully utilised. - The Fuels division was impacted by warm weather and lower demand for heating oil during the summer and early autumn, although this has been partially offset by a strong performance in November. - The acquisitions of New Breed, Staffordshire Fuels and Jim Peet made in the prior year have performed as expected and the mill expansion plans are being successfully delivered. Story provided by StockMarketWire.com

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