NWF Group confident on full-year expectations after hot summer

NWF Group expects full-year trading to beat last year after coping with the impact of hot summer months on its Fuels and Feed divisions.

In a trading update for the six-months ended 30 November, the company said that the warm and dry weather over the summer limited livestock grazing, leading to higher feed-rates across the country before an autumn period that matched expectations.

Meanwhile, the Fuels division experienced a summer that was characterised by reduced demand for heating oil and strong competition for diesel and gas oil, though the business performed as anticipated in autumn.

The division also acquired Midland Fuel Oil Supplies Limited, a 12m litre fuel distributor based in Solihull, on 1 December, consolidating NWF’s market position to the South and East of Birmingham.

Finally, the company commented that its Food division’s Wardle distribution site remains full as it “continues to see success in winning new business” and stated that it expects the company as a whole to meet full-year expectations.

NWF Group’s shares were down 1.75% at 168.50p at 0924 GMT.