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Poor UK weather fuels jump in NWF feed profits

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NWF revealed a boost to its feeds business from the dismal UK weather as the fuels-to-warehousing group unveiled a 28% jump in pre-tax profits, and underlined its appetite for growing in agriculture.

The 141-year-old company, The increase in the division, which provides feed for one-in-seven UK dairy cows, reflected a 10.1% rise to £66.2m in revenues, underpinned by the quest by farmers for feed as doffer crops failed in the wettest summer in a century, and pasture condition deteriorated.

Appetite for deals

And the group - whose food storage business has been hurt by a "slower-than-anticipated" pace of contract wins – restated its appetite for further growth in its historic agriculture field, including by acquisition.

"We are continuing to work on development plans with a particular emphasis on opportunities in the agriculture markets," Mark Hudson, the NWF chairman, said.

A person close to the company said the group was "actively looking for bolt-on acquisitions in the agriculture side", having already built up the fuels business through takeovers such as that of

By Agrimoney.com

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