Mild weather mutes market for NWF

A mild winter has seen muted demand for products at NWF Group, with its feeds and fuels divisions feeling the pinch.

The AIM-listed agricultural and distribution business updated the market on Thursday ahead of its formal results for the six months ended 30 November 2015.

NWF indicated that trading remained flat, in line with the prior year and within the board's full year expectations. It did confirm reported net debt would be a lower figure than for the period ended November 2014.

"In the feeds division, trading was impacted by lower milk priceds as expected and demand in the autumn was reduced due to the mild weather conditions", a spokesperson said.

NWF's food division, however, saw increased demand from customers which the group said was met through using overflow capacity.

"The fuels division performed better than expected through the summer months, however has yet to benefit from colder conditions and the resultant increased demand for heating oil", the spokesperson added.

NWF reported its recent acquisitions of New Breed and Staffordshire Fuels were also being integrated as planned.

The group said it would announce final results for the period on February 2, 2016.