Mixed H1 Results At NWF

Feed, fuel and food distribution group NWF today report their half-yearly results for the period ended Nov 30th 2009.

They reveal group revenue down 11.4% to GBP175.5 million, but profit before tax up 11% to GBP2 million.

Food distribution revenue was flat at GBP20.6 million, but operating profit was up by 70% to a record GBP1.7 million on the back of "improved operating efficiencies and increased backload utilisation."

Feed revenue fell 16.6% to GBP41.2 million, with operating profit down by almost two thirds to GBP0.5 million.

Fuel revenue also fell, by 11.3% to GBP113.7 million, with operating profit down by almost half to GBP0.7 million.

Shares in NWF Group were down 6.6% at 92 pence in early trade.