NWF Group, parent of Boughey Distribution, says it anticipates a record year following strong trading in the winter and spring for its Feeds and Fuels divisions.
In trading statement the group said Boughey traded in line with its first half performance. “We can see some improvements in operating efficiencies in spite of continued demand volatility.”
However, it is the fuel and feeds businesses that have show the strongest performance. It said: “Profit in our Feeds division is expected to be significantly ahead of expectations.
“The performance has been as a result of a combination of favourable factors which include increased sales direct to farmers, a robust market for compound feeds and effective purchasing. The performance in the current financial year benefits from unprecedented increases in the commodity markets which we do not expect to be repeated.
“Fuels has had another good year with high customer service levels being rewarded in the cold winter period, though some of the benefit derived from the extreme cold spell was offset by an unusually warm April. The Evesons acquisition is performing well with its integration plan on track.”
