Boughey Distribution has performed slightly behind expectations as the take-on of new customers is slower than planned and the activity level of existing customers has been lower than anticipated in a tough market environment, according to parent NWF Group.
However, the group said that both the Feeds and Fuels divisions has traded ahead of expectations, it said in a trading update.
Profit before taxation for the six months ended 30 November is anticipated to be ahead of the comparative period in the prior year.
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 plans to announce its first half results on 29th January.