REG - NWF Group PLC - AGM Statement and Trading Update

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RNS Number : 4012Z  NWF Group PLC  16 September 2025

NWF Group PLC

16 September 2025

NWF Group PLC

NWF Group plc: AGM Statement and Trading Update

At the Annual General Meeting of NWF Group plc ('NWF' or the 'Group'), the
specialist distributor, which is being held later today, Amanda Burton, Chair,
will make the following statement:

I am pleased to give shareholders the following update on trading for the
first quarter of the financial year, which commenced on 1 June 2025.

With the seasonally busier winter months still to come, which historically
have proven to be the most material to the Group's performance, the Board's
outlook for the full financial year is unchanged.

Taking each of the Group's businesses in turn:

In Fuels, volumes were lower than the prior year on a like-for-like basis,
principally reflecting lower market demand for both domestic heating oil and
commercial fuel, leading to a more competitive trading environment. The
national rollout of Fuels' regional operating model was concluded in the
period, which is expected to deliver benefits as the year progresses.

The Food business has benefitted from the restructuring of the cost base
undertaken in June 2025, which combined with other changes implemented,
including management change, contributed to a significant improvement in
performance in line with the Board's expectations. The business is now focused
on delivering further efficiency opportunities as well as securing additional
contracted business.

In Feeds, the momentum at the end of the prior year has continued into the new
financial year. Volumes remain strong and margins have been well managed. The
milk price has been stable during the period which continues to encourage
customers to maximise yield.

We remain confident in the Group's prospects and continue to focus on our
long-term growth strategy of development through targeted acquisitions, growth
investment, and business improvement initiatives, supported by our strong
balance sheet.

Fuels' Acquisition

In line with NWF's stated strategy to consolidate the UK fuel distribution
market, the Group acquired N Booth and Sons Limited ('N Booth') on 31 July
2025. N Booth is a 24 million litre distributor based near Wigan, servicing a
mixed commercial and domestic customer base in Lancashire. The business has
been integrated into the Group's North-West region, strengthening NWF's
existing presence in this area.

N Booth is another excellent example of the Group's ability to deliver
complementary bolt-on acquisitions and follows the purchases of Northern
Energy Oil in March 2025 and Pinnocks in May 2025. Together, these three
acquisitions have added 79 million litres per annum to NWF's volumes,
representing a total increase of approximately 12 per cent on the Group's
prior year volumes, whilst strengthening the geographical presence in key
English regions providing the opportunity for improved customer service and
operational efficiencies.

In line with its strategy, the Board continues to consider further acquisition
opportunities for Fuels supported by a robust financial position and a
demonstrable track record of integrating depots into its network.

The Group will provide a further trading update in December 2025, following
the end of its half-year on 30 November.

Information for investors, including analyst consensus forecasts, can be found
on the Group's website at www.nwf.co.uk
(https://protect.checkpoint.com/v2/___http:/www.nwf.co.uk___.bXQtcHJvZC1jcC1ldXcyLTE6bmV4dDE1OmM6bzoyYmI3OGY0ZjIyYTlhZDRlODhiODkxNzgxMDAyNGYwMzo2OjJiNzg6NjJhNWNhOWJlN2YxMWY2NTcyMGRlODcxNDZhZDFhNWEyMGU5M2M5ZDk5NmYzZGU0YTA1MDM2NDM5MzgzZDMyMTpwOkY6Tg)
.

 Chris Belsham, Chief Executive            Reg Hoare          Mike Bell
 Katie Shortland, Chief Financial Officer  Catherine Chapman  Ed Allsop

 NWF Group PLC                             MHP                Peel Hunt LLP (Nominated Adviser and Broker)
 Tel: 01829 260 260                        Tel: 07711 191518  Tel: 020 7418 8900

 

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