NWF Group PLC AGM Statement and Trading Update (9139Z)
24 Septiembre 2020 - 1:00AM
UK Regulatory
TIDMNWF
RNS Number : 9139Z
NWF Group PLC
24 September 2020
Thursday 24 September 2020
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, Chair, 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 2020, our quietest trading period.
Overall trading in the first quarter has been consistent with
the Board's expectations, with net debt reflecting the normal
seasonal fluctuations.
Looking at each division in detail: Fuels has traded in line
with expectations, with effective management of lower levels of
commercial demand than in the prior year, reflecting the reduced
economic activity across the UK and acquisitions performing as
planned. The Board continues to look at acquisition opportunities
for further expansion of the business in line with our
strategy.
Food has been trading behind prior year as stock is repositioned
to fill the new Crewe warehouse. There has also been significant
demand volatility in the short term with increased orders from
supermarkets and lower levels from the food service sector. We are
anticipating continued volatility of demand in the coming months as
a result of the ongoing Covid-19 and Brexit uncertainty.
In the Feeds division, the business has performed as planned
with stability in the dairy market and relatively little change in
commodity prices in the period.
The Board's outlook for the financial year remains in line with
its previous expectations and we continue to focus on ensuring we
provide high service levels to all our customers whilst keeping our
people safe and secure. We are also well prepared for future
impacts of Covid-19 and Brexit, as the fundamentals of our markets
are unchanged.
Overall, the Board continues to have confidence in the Group's
future prospects and we continue to target development
opportunities supported by our strong balance sheet and banking
facilities.
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
Executive Reg Hoare / James Bavister Mike Bell / Ed Allsopp
Chris Belsham, Group Finance
Director
NWF Group plc MHP Communications Peel Hunt LLP
(Nominated Advisor)
Tel: 01829 260 260 Tel: 020 3128 8591 Tel: 020 7418 8900
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
AGMXXLFLBKLEBBK
(END) Dow Jones Newswires
September 24, 2020 02:00 ET (06:00 GMT)
Nwf (LSE:NWF)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Nwf (LSE:NWF)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024