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NWF Group Q1 trading in line with expectations
30th Sep 2021 10:04
(Sharecast News) - Animal food manufacturer NWF said on Thursday that first-quarter trading had been consistent with expectations and ahead of the same point twelve months earlier.
On a division-by-division basis, NWF said its fuels unit had managed the expected increased level of commercial demand and traded in line with expectations over the quiet summer period, while its food wing traded ahead of expectations, with robust demand across all sectors, and its feeds division saw lower volumes due to decreased levels of merchant business, resulting in a weaker performance against expectations over the quieter summer period.
The AIM-listed group also noted recent concerns regarding the availability of HGV drivers and current issues with retail petrol availability, stating it was a business with a "proven capability to manage its supply chain and delivery infrastructure effectively" and said it had "not been negatively impacted by these issues".
"The board's outlook for the financial year remains in line with its previous expectations. We continue to have confidence in the group's future prospects and to target development opportunities supported by our strong balance sheet and banking facilities," said chairman Philip Acton.
As of 1000 BST, NWF shares were up 3.56% at 196.77p.
On a division-by-division basis, NWF said its fuels unit had managed the expected increased level of commercial demand and traded in line with expectations over the quiet summer period, while its food wing traded ahead of expectations, with robust demand across all sectors, and its feeds division saw lower volumes due to decreased levels of merchant business, resulting in a weaker performance against expectations over the quieter summer period.
The AIM-listed group also noted recent concerns regarding the availability of HGV drivers and current issues with retail petrol availability, stating it was a business with a "proven capability to manage its supply chain and delivery infrastructure effectively" and said it had "not been negatively impacted by these issues".
"The board's outlook for the financial year remains in line with its previous expectations. We continue to have confidence in the group's future prospects and to target development opportunities supported by our strong balance sheet and banking facilities," said chairman Philip Acton.
As of 1000 BST, NWF shares were up 3.56% at 196.77p.