NWF Group PLC
27 April 2005
For immediate release: 27 April 2005
NWF Group plc
Trading Update
NWF Group plc ('NWF'), the diversified sales and distribution business, is today
providing the market with a trading update for the year ended 31 May 2005.
As reported in the Interim Statement announced on 31 January 2005, the Group has
undertaken an unprecedented level of investment across most of the businesses to
lay the foundations for further profitable development.
Earlier in the year, the Feeds Division acquired JGW Thomas & Son Limited, an
animal feed manufacturer based in Devon, the Garden Centres Division acquired
Victoria Garden Centre in Yorkshire and disposed of its six country stores, and
in the Distribution business a new warehouse has been brought into use at
Deeside, Chester and planning permission has been obtained for building
warehouses at Wardle in Cheshire.
Current trading
Distribution has suffered in the short term due to high fuel costs and an
increase in labour costs, particularly associated with staffing our start-up
Deeside operation. Feeds is currently experiencing higher volumes and profits
than the comparative period last year, but results will still be slightly lower
than expected. Our Garden Centres business is also delivering higher sales than
last year, but a late start to Spring trading will impact its year end
profitability. Finally our Fuels business is performing well having coped with
extremely high and volatile product prices.
While the Board remains confident of the outlook for 2005/2006 as a result of
the significant investment undertaken by the Group in the current year, the
factors outlined above will impact upon the Group's trading performance in the
year ending 31 May 2005.
Preliminary Results
The Company will update the market further on current trading in August when it
announces preliminary results for the year ended 31 May 2005.
- ends -
For further information please visit www.nwf.co.uk or contact:
Graham Scott, Chief Executive John West/Claire Melly
NWF Group plc Tavistock Communications
Tel: 01829 260 260 Tel: 020 7920 3150
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.