NWF Group PLC Trading Statement (1075S)

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RNS Number : 1075S

NWF Group PLC

19 December 2016

NWF Group plc

Trading update and notice of half year results date

NWF Group plc ("NWF" or "the Group"), the specialist agricultural and distribution business delivering feed, food and fuel across the UK, today announces a trading update for the half year ended 30 November 2016 and its notice of results date.

Trading update

The Group reports that trading for the half year ended 30 November 2016 was lower than the prior year as a result of a weaker first quarter. Trading has been better in recent months and the Board maintains its full year 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.

Notice of results

NWF will announce its results for the half year ended 30 November 2016 on Tuesday 31 January 2017.

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.

For further information please visit www.nwf.co.uk or contact:

 
Richard Whiting,    Reg Hoare / Andrew Leach    Justin Jones / 
 Chief Executive     /                           Mike Bell 
 NWF Group plc       Kelsey Traynor              Peel Hunt LLP 
 Tel: 01829 260      MHP Communications          (Nominated Adviser) 
 260                 Tel: 020 3128 8100          Tel: 020 7418 8900

This information is provided by RNS

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December 19, 2016 02:00 ET (07:00 GMT)

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