With a heritage in the agricultural sector, established in 1871, the Group has 140 years' experience in adding value to our customers' businesses. Our three divisions in the manufacture and supply of animal feeds, ambient grocery distribution and the distribution of fuels have been successfully developed from common roots.


http://www.nwf.co.uk/

Ex -dividend Thurs 30 Oct 4.1p

Final dividend paid 5 December 2014
Preliminary announcement of half-year results Early February 2015
Publication of Interim Report Early February 2015
Interim dividend paid 1 May 2015
Financial year end 31 May 2015
Preliminary announcement of full-year results Early August 2015
Publication of Annual Report and Accounts Late August 2015

Trading Update and Interim Results Date

RNS


RNS Number : 9525Z

NWF Group PLC

17 December 2014






NWF Group plc

For release 17 December 2014


NWF Group plc ('NWF' or 'the Group')

NWF Group plc: Trading update and Interim results date

NWF Group plc, the specialist agricultural and distribution business, announces that profit before tax for the half-year to 30 November 2014 is anticipated to be lower than the record results of the comparative period in the prior year. Net debt will be lower than prior year.

The first half-year has been challenging for the Group as a result of the significant falls in commodity prices which have impacted margins in the feeds business. Whilst the fall in the oil price has impacted revenue, profitability in the fuels business has not been adversely affected.



Looking at each division in more detail: Feeds volumes remain robust however, as previously indicated, margins were impacted in the period by both the significant price reductions seen in the commodity markets and the announcement of reductions in milk prices across the UK.



In the Food division, the business has delivered a good result from the single Wardle site managing the demand peaks for Halloween and Christmas effectively. Service levels have been maintained at 99.7%.



Finally, the Fuels business has performed as planned in spite of warmer than normal weather conditions which reduced demand for heating oil. The significant falls in oil prices have been broadly beneficial and additional sales of premium products have helped mitigate the impact of the mild weather. A new Fuel depot in Mansfield in Nottinghamshire has also been opened in the period.

NWF plans to announce interim results for the six months ended 30 November 2014 on Tuesday 3 February 2015.

A meeting for analysts will be held at 10.30 a.m. on the day of the results at Tavistock Communications, 131 Finsbury Pavement, London EC2A 1NT.

Finals Tues 4 Aug

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Final Results

Divisional highlights:



· Feeds - underlying operating profit of £1.8 million (2014: £3.3 million). A challenging year in the ruminant feed market with reduced milk prices and falling commodity prices resulting in margin pressure. Volumes in the business were robust and profitability recovered significantly in the second half.



· Food - underlying operating profit of £2.5 million (2014: £2.0 million). A strong result highlighting the continued efficiency achieved through the division operating at full capacity throughout the year from a single operating site with the accompanying benefits of scale. Further long-term contracts were signed with customers during the year which help to underpin the future utilisation of the site.



· Fuels - underlying operating profit of £4.3 million (2014: £3.2 million). A very strong performance across the division with the sale of premium products, the falling oil price and strong operational management more than offsetting warmer than normal weather in the first half of the year.



Richard Whiting, Chief Executive, NWF Group plc, commented:

"NWF delivered a solid performance last year. The results demonstrate the resilience and benefits of the diverse NWF business model and the benefits of targeted initiatives delivered in all three of our divisions. The acquisition of New Breed in June 2015 demonstrates our strategic intent to continue the successful development of the Group. Progress to date in the current financial year has been in line with the Board's expectations."

4 Aug Panmure Gordon 175.00 Buy