Feed lifts NWFs sales
RECORD feed volumes helped Cheshire-based NWF increase sales by 15% to £99m in the year to May 31.
Operating profit rose 34% to £3.4m, with the agricultural arm posting a 58% rise to top £850,000, similar to the fuels division. Distribution remained the biggest contributor, at £1.2m, though the retail arm doubled profits to £500,000.
But a one-off exceptional charge of £1.4m to close the RN Bolton distribution business reduced overall profits. A final dividend of 6.6p takes the total for the year to 9.5p a share, up 14%.
Chairman Roy Willis is confident of more growth this year. *