NWF Fuels

NWF Group, the fuel, food and feed distributor, said pre-tax profit is now expected to be ahead of market expectations following a strong trading performance in the fourth quarter.

In a trading update, it said all its divisions had remained fully operational throughout the period ending 31 May 2021 and it had implemented safe methods of working and home working where possible.

The company said its fuels work was ahead of expectations with heating oil sales supported by a cold winter and continued working from home.

Business performance in its amibent grocery consolidation division Boughey Distribution improved during the second half following more stable demand patterns and improved business efficiency.

NWF said feeds came under pressure during the winter months, with increases in commodity prices and reduced visibility during a cyber attack last November.

It has not had to furlough staff or rely on any government support during the pandemic.

Richard Whiting, NWF CEO, said: “We’ve delivered a positive result ahead of expectations set before the pandemic, demonstrating great business resilience, despite the challenges of Covid-19, Brexit uncertainty, a cyber incident and unprecedented commodity price increases.

“Our teams have worked hard during the year meeting customers’ needs whilst staying safe. We have entered the new financial year in good shape with strategic progress continuing.”