Cheshire-based NWF Group plc, which delivers fuel, food and agricultural feeds across the UK, said first-quarter results were in line with expectations and that its full-year forecast is unchanged. 

“With the seasonally busier winter months to come, which are the most material to the Group’s performance, the Board’s outlook for the financial year as a whole is unchanged,” the company said ahead of its annual general meeting on Thursday. “We remain confident in the Group’s prospects and continue to target development opportunities supported by our strong balance sheet.”

Philip Acton, Chair, said: “Overall trading in the first quarter, which is typically our quietest period of the year, has been in line with the Board’s expectations.”

He said fuels volumes are slightly lower than the prior year, with margin improved on the prior year and continued strong cost management, while its food business successfully completed the fit out of the new warehouse at Lymedale. In feeds, he said volumes were slightly higher than the prior year following the wet weather in the spring and early summer while margins have been stable. 

The company said it will provide a further trading update in December 2024, following the end of its half-year on 30 November.