NWF expects profit ahead of market expectations

Shares of Chesire-based NWF Group plc, the agricultural business that delivers feeds, food and fuel across the UK, rose about 5% on Friday after the firm published a trading update for the year ended May 31, 2021, saying it expects headline profit before tax to be ahead of market expectations and that it entered the new financial year in good shape.

“The group is pleased to report that it saw strong overall trading performance in the fourth quarter and as a result, headline profit before tax for the financial year ended 31 May 2021 is now expected to be ahead of market expectations which were established before the pandemic, demonstrating the continued resilience of the group,” said NWF.

“All divisions have remained fully operational throughout the year with safe methods of working and home working implemented where possible.

“The group has continued its policy not to furlough any staff or utilise any form of Government support.”

NWF said it will announce its final results on Tuesday, August 3.

NWF CEO Richard Whiting said: “We’ve delivered a positive result ahead of expectations set before the pandemic, demonstrating great business resilience, despite the challenges of Covid-19, Brexit uncertainty, a cyber incident and unprecedented commodity price increases.

“Our teams have worked hard during the year meeting customers’ needs whilst staying safe.

“We have entered the new financial year in good shape with strategic progress continuing.” 

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