Trading Update

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 expectations¹ with full year headline profit before tax² 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

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: [phone]	Tel: [phone]	Tel: [phone]

 

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