Trading update
The Group reports that trading for the half year ended 30 November 2017 was ahead of the prior year and the Board remains confident of delivering its full year expectations. Net debt was also lower than at 30 November 2016.
· In the Feeds division, performance has improved as planned with the benefits of previous capital investment being delivered, alongside a recovering dairy market due to higher milk prices.
· In Food, the business has continued to focus on securing additional customers to fully utilise the Wardle facility; whilst this is underway first half performance has been below last year, as expected. Outbound load demand has been robust through the period.
· The Fuels division performed as planned and ahead of last year, growing volumes and increasing diesel and gas oil sales to offset the normal lower levels of demand for heating oil in the summer and autumn.
Notice of results
NWF will announce its results for the half year ended 30 November 2017 on Tuesday 30 January 2018.
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.