REG - NWF Group PLC - Trading Update

NWFAnnouncement

09/03/2023 07:00

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RNS Number : 3511S  NWF Group PLC  09 March 2023

For release 7.00am Thursday 9 March 2023

NWF Group plc

 

NWF Group plc: Trading Update

 

NWF Group plc ('NWF' the 'Company' or the 'Group'), the specialist distributor
of fuel, food and feed across the UK, today provides a trading update for the
current year ending 31 May 2023.

As set out in the interim results issued on 31 January 2023, the Group
delivered a very strong performance in the first six months of the year and
carried over good momentum going into the second half.

Since then, trading in all three divisions has continued to be strong, with
performance across the third quarter ahead of internal expectations, including
the benefit of a good first contribution from the Sweetfuels business,
acquired in December 2022.

Whilst final quarter trading continues to be subject to seasonal factors, the
strong year to date performance together with the supportive backdrop entering
March means that the Board now anticipates the Group's full year result to be
significantly ahead of market expectations(1) with full year headline profit
before tax(2) not less than £17.5 million.

 

1.     Company compiled consensus headline PBT of £12.3 million;
information for investors including analyst consensus forecasts, can be found
on the Group's website at www.nwf.co.uk (http://www.nwf.co.uk)

2.     Stated before amortisation of acquired intangibles and the net
finance cost of the Group's defined benefit scheme

 

Certain information contained in this announcement would have constituted
inside information (as defined by Article 7 of Regulation (EU) No 596/2014),
as it forms part of domestic law by virtue of the European Union (Withdrawal)
Act 2018) ("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.

 

 

 Richard Whiting, Chief Executive       Reg Hoare / Catherine Chapman  Mike Bell / Ed Allsopp
 Chris Belsham, Group Finance Director

 NWF Group plc                          MHP Communications             Peel Hunt LLP
                                                                       (Nominated Adviser and broker)
 Tel: 01829 260 260                     Tel: 020 3128 8339             Tel: 020 7418 8900

 

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