NWF Group PLC Trading Update and Notice of Results (0258C)
13 Junio 2019 - 1:00AM
UK Regulatory
TIDMNWF
RNS Number : 0258C
NWF Group PLC
13 June 2019
NWF Group plc
NWF Group plc
NWF Group plc: Year End Trading Update and Notice of Results
NWF Group plc ('NWF' or the Group), the specialist distributor
of fuel, food and feed across the UK, today announces a trading
update for the year ended 31 May 2019 and its notice of
results.
Trading update
The Group is pleased to report that overall trading for the
financial year ended 31 May 2019 is expected to be above market
expectations following a strong end to the year.
Fuels:
-- Strong performance benefiting from good results across the
depot network and effective management of a volatile oil price.
Results anticipated to be ahead of expectations, despite the milder
winter, but behind the record prior year.
-- In line with our strategy we have completed two fuel
acquisitions in the year, one in the Midlands complementing our
existing business in the area, and one expanding our geographical
reach in the South West.
Food:
-- The Wardle site has remained full throughout the period as a
consequence of new business won in the prior 12 months. It is
expected to deliver significantly improved performance with the
benefit of new customers and staff operating more effectively. The
additional stock holding requirements and activity around Brexit
have supported the performance.
Feeds:
-- High demand over the summer was followed by weaker demand
over the key winter months as a consequence of mild weather and
less demand for sheep feed. Overall performance was satisfactory,
albeit expected to be a little behind the prior year.
Net debt was in line with the Board's expectations at the year
end (well below 1.0x Net Debt/EBITDA) and includes the cost of the
two acquisitions made during the year.
Notice of results
NWF will announce its final results for the year ended 31 May
2019 on Tuesday 30 July 2019.
Richard Whiting, Chief Executive of NWF said:
"We finished the year strongly resulting in a performance ahead
of our original expectations. There were solid contributions and
encouraging performances within all three divisions, which
reflected the benefit of ongoing performance improvement actions
taken and acquisitions completed in recent years. We entered the
new financial year in good shape with strategic progress
continuing."
A meeting will be held for analysts at 9.30 a.m. on the day of
the results announcement at MHP Communications, 6 Agar Street,
London, WC2N 4HN.
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 / Justin Jones /
Executive Patrick Hanrahan Mike Bell
Chris Belsham, Finance MHP Communications Peel Hunt LLP (Nominated adviser)
Director Tel: 020 3128 Tel:0 020 7418 8900
NWF Group plc 8100
Tel: 01829 260 260
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END
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