On Wednesday, NWF Group (LSE:NWF) impressed investors with its half year results for the period ended 30 November 2019, revealing an across-the-board strengthening of its balance sheet.
NWF, which is a specialist distributor of fuel, food, and feed across the UK, revealed that revenues grew year-on-year by 5.6% to £348.9 million while profit before tax grew 26.3% to £2.4 million.
Meanwhile, the firm said it would continue to pay a healthy 1p per share dividend and provided a healthy outlook for the rest of the current year’s trading, with demand for heating oil proving to be particularly strong.
As chairman Philip Acton put it: “Our financial position is strong and we continue to focus on growth initiatives, both organic and through targeted acquisitions. Overall the group continues to trade in line with the Board’s expectations for the full financial year and I look forward to updating shareholders later this year.”
In the video below, provided by piworld, NWF’s chief executive Richard Whiting and group finance director Chris Belsham run through the results in more detail.
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