- NWF Group, the specialist agricultural and distribution business, has reported that its financial year ended 31 May 2015 has been slightly ahead of the Board's expectations.

The Group was cash generative during the year and net debt is lower than anticipated, supporting continued investment in targeted growth initiatives.

It has also announced it has acquired New Breed (UK), a high quality agriculture nutritional advisory business working with clients in the North West of England and Scotland. It supplies over 45,000 tonnes of feed to farmers per annum.

This profitable business, which will be run as a stand-alone part of the Group, will continue to be led by its experienced management team and is expected to be immediately earnings enhancing.

Richard Whiting, chief executive of NWF Group, said: "NWF delivered another solid performance last year. We continue to make good progress as a result of targeted initiatives in all three of our divisions. The bolt-on acquisition of New Breed is in line with our stated strategy to expand within agriculture."

At 9:23am: [LON:NWF] NWF Group PLC share price was +3p at 138p

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