NWF logo

NWF - NWF News Story

216p 4.0  1.9%

Last Trade - 30/07/21

Small Cap
Market Cap £103.9m
Enterprise Value £146.1m
Revenue £648.0m
Position in Universe 1038th / 1800

NWF Group PLC - Trading Update and Notice of Results

Fri 11th June, 2021 7:00am
RNS Number : 5515B
11 June 2021

For release 7.00am Friday 11 June 2021

NWF Group plc   


NWF Group plc: Trading Update and Notice of Results


NWF Group plc ('NWF' or the Group), the specialist distributor of fuel, food and feed across the UK, today announces a trading update for the year ended 31 May 2021 and its notice of results.

Trading update

The Group is pleased to report that it saw strong overall trading performance in the fourth quarter and as a result, headline profit before tax for the financial year ended 31 May 2021 is now expected to be ahead of market expectations which were established before the pandemic, demonstrating the continued resilience of the Group.

All divisions have remained fully operational throughout the year with safe methods of working and home working implemented where possible. The Group has continued its policy not to furlough any staff or utilise any form of Government support.


·   A strong performance ahead of expectations from across the depot network with continued mix improvement from heating oil and gas oil. Heating oil sales have been supported by a cold winter and continued home working during the period.

·    The Board continues appraising earnings accretive acquisition opportunities in line with the strategy of consolidating a fragmented UK Fuels market.



·    Business performance improved in the second half in line with expectations following more stable demand patterns and improved business efficiency.

·    The new Crewe warehouse remains fully utilised and sets a good benchmark for efficiency.



·    Continued to support customers during challenging times by providing nutritional advice and on time deliveries.

·    Margins came under pressure during the key winter months with commodity price increases and reduced visibility during the cyber incident.


Net debt at the year-end is now expected to be lower than previous expectations as a result of the stronger trading result, together with ongoing disciplined cash management across the Group and capital expenditure being lower than planned.

Notice of results 

NWF will announce its final results for the year ended 31 May 2021 on Tuesday 3 August 2021. 

There will be a webcast or conference call option for analysts on the day at 9.30am. Please contact MHP via ailsa.prestige@mhpc.com  or 020 3128 8734 if you would like to receive details.

Richard Whiting, Chief Executive of NWF said:

"We've delivered a positive result ahead of expectations set before the pandemic, demonstrating great business resilience, despite the challenges of Covid-19, Brexit uncertainty, a cyber incident and unprecedented commodity price increases. Our teams have worked hard during the year meeting customers' needs whilst staying safe. We have entered the new financial year in good shape with strategic progress continuing." 

Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) ("MAR") prior to its release as part of this announcement and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.


Information for investors, including analyst consensus forecasts, can be found on the Group's website at www.nwf.co.uk  



Richard Whiting, Chief Executive

Reg Hoare / James Bavister /

Mike Bell / Ed Allsopp

Chris Belsham, Group Finance Director

Ailsa Prestige





NWF Group plc

MHP Communications

Peel Hunt LLP



(Nominated Advisor)

Tel: 01829 260 260

Tel: 020 3128 8591

Tel: 020 7418 8900



This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.