NWF Group cuts net debt
Agricultural and distribution business NWF Group said Thursday it has reduced net debt after exceeding trading expectations.
Agricultural and distribution business NWF Group said Thursday it has reduced net debt after exceeding trading expectations.
In a trading announcement for the half-year ending November 30th, the company said debt has been lower than anticipated after the board hit sales targets.
The group is anticipating higher profits in its half-yearly interim results which are due for release on January 29th, 2013.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Profit before taxation for the six months ended November 30th is anticipated to be ahead of the comparative period in the prior year," the group said in a statement.
"Net debt is expected to be significantly lower than at the same point last year reflecting the result of more effective working capital management across the group."
NWF Group said its feeds division has exceeded trading prospects after successfully managing the increases and volatility of commodity prices by focusing on direct business with farmers.
Its fuels business has also performed well following a return to normal trading, increased demand for heating oil for winter, a lower cost base and rationalised tanker fleet.
However business has been slow for its food division with a low intake of new customers and sluggish activity level of existing clients as a result of a competitive market.
NWF Group has market capitalisation of £48.01m. Shares rose 3.57% to 101.50p at 14:00 Thursday.
RD
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
High earners underestimate how much they need to retire comfortably
High net worth individuals grossly misjudge how much money they need for a comfortable retirement, new data shows, with many not saving enough.
-
Retired banker who gave wife £80m to avoid inheritance tax won’t face equal split in divorce
Family lawyers say the Supreme Court ruling will have significant impact on high net worth divorce cases