StockMarketWire.com - Specialist fuel, food and feed distributor NWF reported a 26% rise in first-half profit, as it upped sales of heating oil and it improved efficiencies in its food division.

Pre-tax profit for the six months through November rose to £2.4m, up from £1.9m on-year. Revenue climbed 5.6% to £348.9m.

NWF held its interim dividend steady at 1p per share.

The company said its full-year trading expectations remained unchanged.

'We had a very positive first half, with all divisions trading in line with, or exceeding, expectations,' chief executive Richard Whiting said.

'We have continued the expansion of NWF in line with our strategy; acquiring five fuel businesses in the last 12 months, increasing our annualised volumes by almost 30%.'

'We are also significantly expanding the food division with a major new contract and warehouse, which is expected to benefit our next financial year.'


At 9:43am: [LON:NWF] NWF Group PLC share price was +4p at 185p



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