- Specialist fuel, food and animal feed distributor NWF said it expected its annual trading performance to improve significantly, owing to strong demand sparked by the Covid-19 crisis.

NWF said it provided critical products and logistical support to customers across the food retail, fuel and agriculture markets and had not furloughed any employees.

'Given the essential nature of the products supplied by the Group, we have seen a significant increase in demand and activity levels during March and April to date,' it said.

'Furthermore, the fuels business and its customers have benefited from a significant fall in oil prices over recent weeks which will make material contribution to profits in the short term.'

Overall trading for the year through May was expected to significantly ahead of the prior year.

'At this point and in light of the ongoing uncertainty, the Bbard does not believe it is appropriate to provide guidance on performance for the year ending 31 May 2021,' the company added.

'However, the board has been encouraged both by the strong performance of the group as well as the exceptional response by its people to the Covid-19 outbreak and remains confident in the long term prospects of the group.'

At 8:04am: [LON:NWF] NWF Group PLC share price was +15p at 180p

Story provided by