Acquisition and Trading Update

RNS Number : 0424V

NWF Group PLC

04 April 2019

 

4 April 2019

NWF Group plc 

NWF Group plc: Fuel acquisition in line with strategy

Acquisition

NWF Group plc ('NWF' or the 'Group'), the specialist distributor of fuel, food and feed across the UK, today announces it has acquired Consols Oils Limited, the second fuels acquisition in the current year.  This is in line with the Group's strategy to grow and consolidate the fuels distribution business, in which the Group is the third largest player in the UK.

Consols Oils is a 25 million litre fuel distributor based in Redruth, Cornwall which expands the Group's UK coverage by adding a leading supplier in West Cornwall, a new area for the Group's fuels business. The acquisition supports the Group's development in the South West.

NWF's growth strategy is to both expand the geographic coverage of the fuels business within the UK and consolidate businesses adjacent to the existing depot network. The acquisition of Midland Fuel Oil Supplies Limited (announced on 12 December 2018) has been integrated into the Kenilworth depot as planned and is performing well.  

Current trading

The Group is also pleased to report that current trading is in line with the Board's expectations for the full financial year ending 31 May 2019 after the completion of the important winter period.  The Group expects to issue a year end trading update in mid-June in line with its prior year practice.

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

Richard Whiting, Chief Executive Chris Belsham, Finance Director NWF Group plc Tel: [phone]

Reg Hoare / Patrick Hanrahan MHP Communications Tel: [phone]

Justin Jones / Mike Bell Peel Hunt LLP (Nominated adviser) Tel:[phone]

 

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