Boughey Distribution is expected to deliver a profit contribution ahead of full year estimates, parent group NWF said in a trading update.
“As anticipated, Food has experienced a weaker second half reflecting the lower volumes stored in the business, but we anticipate its profit contribution to be ahead of full year estimates,” it said.
NWF’s fuels business had a disappointing year as a result of one of the mildest winters on record combined with record high oil prices and a challenging economic environment. But the feeds business had traded well in the second half, it said.
Richard Whiting, NWF chief executive, said: “As previously indicated, we have experienced difficult market conditions, particularly in Fuels. We will, however, deliver results which are in line with the Board’s expectations for the full year with lower levels of debt than previously expected.”