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NWF says trading significantly beat expectations

By BFN News | 07:53 AM | Thursday 14 June, 2018

NWF reported trading for the financial year ended 31 May 2018 was significantly ahead of current market expectations and the prior year. The fuels division had an excellent year, delivering outstanding service to customers across the country and performing particularly strongly in the cold extended winter conditions. In food, the business was challenged by the ontake of significant new business, recruitment of new staff and the reorganisation required to accommodate new customers at the Wardle site. Performance was lower than anticipated as new customers and employees bed in. In the feeds division, performance improved as anticipated due to the delivery on the investment made in prior years and improved trading conditions in the dairy market, where farmers are benefiting from improved milk prices. Net debt was lower than the board's expectations and reflects the strong trading and further improvements in working capital management. CEO Richard Whiting said: "NWF has delivered an outstanding performance reflecting the focus on service across the group, particularly from the fuels business during the challenging winter conditions experienced earlier this year. "It is also positive to demonstrate a return on the investment made in the prior year and to report a lower level of net debt." Story provided by

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