NWF Group (AIM:NWF) cracking trading update from the distributor of animal feed
The specialist agricultural and distribution business (it’s a strange old mix of activities) announced strong trading in the winter and early spring months with the result that the outcome for the financial year will be significantly ahead of current market expectations – prior to the update consensus estimates were for pre-tax profit of £6.49m and eps of 10.17p.
The Group’s Feeds division, NWF Agriculture (http://www.nwf.co.uk/about_us/feeds/ ), feeds one in seven dairy cows in Britain and has continued to trade strongly. The late turn out of dairy herds has caused an increase in demand for feed in combination with a sharp increase in the market demand for sheep feed. Contrastingly trading conditions in the Food division (Boughey Distribution http://www.nwf.co.uk/about_us/food ) continue to be difficult. Boughey Distribution is a leading consolidator of ambient grocery products consolidating full loads from its customers, the food producers and importers, and shipping across the UK daily to all the major supermarkets, cash and carry…