NWF Year End Trading Ahead Of Market Views, Sees Record Year

15th Jun 2010 07:39

LONDON (Dow Jones)--NWF Group PLC (NWF.LN), a specialist distribution business, said Tuesday that trading in the year ended May. 31, 2010 has been ahead of market expectations and the now anticipates another record year for the Group. MAIN FACTS: -The Group has successfully secured with Royal Bank of Scotland a new long term funding agreement, with a total facility of GBP51.0 million available at similar cost to the previous existing facility. This will be subject to normal banking covenants and runs through until October 2013. -Food Distribution is on course to deliver, as anticipated, a record result. -Feeds performance has improved significantly in the second half and is now trading in line with expectations for the full year. -Fuels has had an outstanding result in the second half, significantly ahead of expectations, by delivering excellent service through a very cold winter period, which resulted in increased demand for heating oil. -The Group continues to focus on prudent cash management and net debt at the year-end has been further reduced. Shares closed Monday at 87.0 pence. -By Razak Musah Baba, Dow Jones Newswires; +44-20-7842-9275; [email protected] (END) Dow Jones Newswires June 15, 2010 02:39 ET (06:39 GMT)