NWF shares up on string trading update

Shares of Chesire-based NWF Group plc, the business that delivers fuel, food and agricultural feeds across the UK, rose about 7% after it published a trading update for its current year ending May 31, 2023, saying it expects its full year result to be “significantly ahead of market expectations.”

“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,” said NWF.

“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 with full year headline profit before tax not less than £17.5 million.”