Nwf Share Discussion Threads

[mortimer7] 14/8/2023 15:03

Reason for dip may be the Analysts (3) consensus forecast for PBT
2024 £14.4m
2025 £14.9m
2026 £15.2m
being lower than 2023 result of £19.6m.

Also revenue forecast for those years below this year.
(All on NWF website)

[wad collector] 10/8/2023 21:01

Disappointing , though unfortunately many of my holdings are creeping downwards, bit of an AIM drop ?

[barnesian] 10/8/2023 18:00

What's gone wrong? Any guesses?

[mortimer7] 10/8/2023 16:17

Didn't see this capitulation coming!

[tomps2] 02/8/2023 10:19

NWF Group (NWF) Full Year 2023 results presentation - August 23

NWF Group Chief Executive Richard Whiting and Chief Executive designate/CFO Chris Belsham present final results for the year ended 31 May 2023. The group saw record revenues, with robust levels of profitability.

Watch the video here:

Or listen to the podcast here:

[wad collector] 01/8/2023 13:22

Though if you are into headline figures , you might not be so impressed with the numbers for longer term predictions.
I guess the flat market response reflects that the good results were in line and already discounted.

[piwood] 01/8/2023 08:31

The company website provides analyst forecasts for the next couple of years.

[gswredland] 01/8/2023 07:58

NWF really do deliver.
Excellent set of results

[cwa1] 01/8/2023 07:38

APOLOGIES FOR FORMATTING OF TABLE BELOW!

NWF Group plc: Final results for the year ended 31 May 2023





"A very strong set of results, significantly ahead of market expectations at the start of the financial year, with all divisions performing strongly, successful acquisitions in line with our growth strategy and refinancing to support continued development."



NWF Group plc ('NWF' or 'the Group'), the specialist distributor of fuel, food and feed across the UK, today announces its audited final results for the year ended 31 May 2023.





2023

2022

%









Financial highlights







Revenue

£1,053.9m

£878.6m

+20.0%

Headline operating profit1

£21.0m

£21.8m

-3.7%

Headline profit before taxation1

£19.6m

£20.9m

-6.2%

Diluted headline earnings per share1

31.3p

34.8p

-9.8%

Total dividend per share

7.8p

7.5p

+4.0%

Headline EBITDA1

£25.8m

£26.6m

-3.0%

Net cash (excluding IFRS 16 lease liabilities)

£16.3m

£9.0m

+81.1%

Statutory results







Operating profit

£20.6m

£13.2m

+56.1%

Profit before taxation

£18.9m

£12.0m

+57.5%

Diluted earnings per share

30.1p

17.0p

+77.6%

Net debt (including IFRS 16 lease liabilities)

£13.5m

£19.2m

-27.6%

[cfro] 01/8/2023 07:27

Shame that the CEO Richard Whiting is retiring next year. He has led the group well and done a grand job over the last 15 years.

[gswredland] 31/7/2023 08:42

Normally good!
There was some buying on Friday in anticipation...

[ntv] 30/7/2023 15:50

Results are due on Tuesday

[thorpematt] 19/7/2023 11:45

So I would hope that eranings would be acretive!

..but then you could also assets strip instead...

...I do not think that's the plan.

If we look at the business Mr Boorman's built it is worthy of continuation and integration.



Profits are readily vewed on the company accounts, links to PDFs here for last year and 3 years ago (because the 2 year ago is detailed on lst years anyway).

As you see NWF have bought for 2.6m a company that can produce £1m of profits in a year). Which, well you do the math as they say.

[cwa1] 19/7/2023 08:10

Solid enough announcement IMO

Acquisition of Geoff Boorman Fuels

NWF announces it has acquired the trade and assets of Geoff Boorman Fuels from Geoff Boorman Fuels LLP, which represents the second fuels acquisition in the last 12 months. This is in line with the Group's strategy to grow the fuels distribution business, in which the Group is the third largest player in the UK.

Geoff Boorman Fuels is a nineteen million litre fuel distributor based in Edenbridge, Kent with a largely domestic customer base. The acquisition complements Home Counties Fuels, the Group's Kent based commercial fuel distribution operation thereby supporting the Group's development in the South-East. The acquisition is expected to be accretive to underlying earnings of the Group, and the GBP2.6 million consideration has been paid in cash on completion from NWF's existing cash resources.

NWF's growth strategy is to both expand the geographic coverage of the fuels business within the UK and consolidate businesses adjacent to the existing depot network. NWF's acquisition of Sweetfuels Limited (announced on 22 December 2022) has been integrated as planned and is performing well.

Notice of final results for the year ended 31 May 2023

The Company will announce its final results for its financial year ended 31 May 2023 on Tuesday 1 August 2023.

[ntv] 13/6/2023 21:14

I thought it was a good update too so happy to hold

[investing2retire] 09/6/2023 09:14

lovely update. i added more

[wad collector] 09/6/2023 08:13

An optimistic looking TU ; £3 soon I think.

[cwa1] 09/6/2023 07:44

Happy days :-)

NWF Group plc: Trading Update and Renewed Banking facilities



NWF Group plc ('NWF' the 'Company' or the 'Group'), the specialist distributor of fuel, food and feed across the UK, today provides a trading update for the year ended 31 May 2023 ("FY23"), together with details of its renewed banking facilities.

Trading update

As set out in the trading update of 9 March 2023, the Group delivered strong performances from all businesses in the first half. Pleasingly, this positive momentum has been sustained through the second half and consequently, FY23 headline profit before tax is now anticipated to be ahead of the current market expectation1 and in excess of £19.0 million2.

Net cash at the year-end is also higher than previous expectations as a result of the stronger trading result, ongoing disciplined cash management across the Group and some positive working capital movements.

Fuels:

· Volumes recovered in the second half as the team focused on increasing commercial business

· The Sweetfuels acquisition has been successfully integrated and is performing strongly

· The Board continues appraising earnings accretive acquisition opportunities in line with NWF's strategy of consolidating a fragmented UK Fuels market

Food:

· Demand has continued to be robust with storage close to capacity and increased outloads supported by improved operating efficiency

Feeds

· Solid demand for ruminant feed and ancillary products across the year supported by a strong milk price with the business effectively managing commodity cost volatility and inflationary cost increases

Renewed Banking facilities

The Group has completed the renewal of its banking facilities with NatWest Group for a three year term on competitive rates, with an option to extend by two years. The facilities of £61 million comprise an invoice discounting facility of £50 million, a revolving credit facility of £10 million and an overdraft of £1 million, with a further £20 million accordion available to support the development strategy of the Group.

Richard Whiting, Chief Executive of NWF said:

"We have delivered a very strong result for the Group and it's great to report that all three divisions have performed ahead of expectations in spite of the inflationary and cost of living challenges. The Group is well positioned with a net cash position and new banking facilities to further develop and grow."



1. Company compiled consensus headline PBT of £17.5 million; information for investors including analyst consensus forecasts, can be found on the Group's website at www.nwf.co.uk

2. Stated before amortisation of acquired intangibles and the net finance cost of the Group's defined benefit scheme

[thorpematt] 14/5/2023 18:28

I received mine from ii on 2/5

It must be said it's not the biggest divi in the world. I know it's an interim but at such a small fraction of the final divi it makes you wonder if its worth the admin.

[gswredland] 13/5/2023 09:13

Thank you CW

[gswredland] 12/5/2023 16:48

When did it go ex dividend please?

[gswredland] 12/5/2023 15:29

I'm with Jarvis.
Not received it yet
Tipped this afternoon?