NWF Group PLC AGM Statement and Trading Update (6794N)
26 Septiembre 2019 - 1:00AM
UK Regulatory
TIDMNWF
RNS Number : 6794N
NWF Group PLC
26 September 2019
NWF Group plc
For release 7.00 a.m. 26 September 2019
NWF Group plc
NWF Group plc: AGM Statement and Trading Update
At the Annual General Meeting of NWF Group plc ('NWF' or the
Group), the specialist distributor of fuel, food and feed across
the UK, which is being held later today, Philip Acton, Chairman,
will make the following statement:
"I am pleased to give shareholders the following update on
trading for the first quarter of the new financial year that
commenced 1 June 2019, our quietest trading period.
Trading has been marginally ahead of the first quarter of the
prior year and the Board's expectations, with net debt reflecting
the normal seasonal fluctuations.
Looking at each division in detail: Fuels has traded ahead of
prior year, with the recent acquisitions performing as planned and
integration progressing smoothly. The business continues to invest
in systems and people which will improve efficiencies and provide a
strong platform for continued growth.
Food has been trading in line with our expectations, fully
utilising the Wardle facility and continuing to improve operating
effectiveness as we move into its critical Autumn / Christmas
trading period.
In the Feeds division, the business has performed as planned,
market volumes in the period being significantly lower than prior
year which had benefited from additional feed requirements
resulting from the unusually dry summer. Positively, despite this,
NWF feed volumes have remained robust in the period.
The Board's outlook for the financial year remains in line with
its expectations and we continue to focus on development
opportunities, both organic and through targeted acquisitions,
supported by our strong balance sheet and banking facilities. We
are also well prepared - whatever the outcome - for Brexit, as the
fundamentals of our markets are unchanged and we continue to
monitor and plan contingencies with customers and suppliers.
Overall, the Board continues to have confidence in the Group's
future prospects.
As is its established practice, the Group will provide a further
trading update in December, following the end of its half year on
30 November."
Information for investors, including analyst consensus
forecasts, can be found on the Group's website at www.nwf.co.uk
Richard Whiting, Chief Reg Hoare / Patrick Mike Bell / Ed Allsopp
Executive Hanrahan
Chris Belsham, Group MHP Communications Peel Hunt LLP
Finance Director
NWF Group plc Tel: 020 3128 8100 (Nominated Adviser)
Tel: 01829 260 260 Tel: 020 7418 8900
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END
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