LONDON (ShareCast) - Distribution firm NWF Group expects full year results to be 'significantly ahead of current market expectations,' after strong trading and continued cash management.
NWF (LSE: NWF.L
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news) , which distributes oil, animal feeds and grocery products, said strong trading in the first half has continued through the key winter months.
The Fuels division delivered record levels of performance, NWF said in Tuesday's company statement. Its distribution division saw strong demand for ambient grocery products.
However the feeds market has seen tougher trading conditions coming into the spring with lower milk prices and compound feed volumes as milk output reduced, the group explained.
Commenting on the update chief executive Richard Whiting said, "NWF has continued to perform at record levels throughout the key winter months and in particular the team in the fuels division has delivered an exceptionally strong result. The strength of our three trading divisions continues to deliver a good platform to support the future development of the group".
NWF's focus on cash management continues with further improvements and reductions in net debt being delivered, the company added.
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