Business
Half Yearly Report
Half Yearly Report.
About this update from Nwf Group Plc
[{"type":"text","content":"\n \nRNS Number : 7025N NWF Group PLC 02 February 2016 \n\nNWF Group plc \nFinal for release 7.00 a.m. 2 February 2016 \n\nNWF Group plc \n\nNWF Group plc: Half Year results for the period ended 30 November 2015\n \nNWF Group plc, the specialist agricultural and distribution business delivering feed, food and fuel across the UK, today announces its half year results for the period ended 30 November 2015.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFinancial highlights\n\n\n2015\n\n\n2014\n\n\n%\n\n\n \n\n\n\n\n \nRevenue\n\n\n \n£224.6m\n\n\n \n£247.1m\n\n\n-9.1%\n\n\n \n\n\n\n\n \nHeadline operating profit*\n\n\n \n£2.8m\n\n\n \n£2.8m\n\n\n-\n\n\n \n\n\n\n\n \nHeadline profit before taxation*\n\n\n \n£2.6m\n\n\n \n£2.5m\n\n\n+4.0%\n\n\n \n\n\n\n\n \nHeadline basic earnings per share*\n\n\n \n4.3p\n\n\n \n4.0p\n\n\n+7.5%\n\n\n \n\n\n\n\n \nInterim dividend per share\n\n\n \n1.0p\n\n\n \n1.0p\n\n\n \n-\n\n\n \n\n\n\n\nNet debt\n\n\n£10.4m\n\n\n£12.4m\n\n\n16.1%\nreduction\n\n\n \n\n\n\n\nNet debt to EBITDA\n\n\n0.8x\n\n\n1.1x\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n* Headline operating profit is reported operating profit before exceptional items. Headline profit before taxation is reported profit before taxation after adding back the net finance cost in respect of the Group's defined benefit pension scheme, and the exceptional items and the taxation effect thereon where relevant. Statutory profit before taxation was £1.8 million (H1 2014: £2.1 million).\nOperational highlights:\n· First half trading in line with expectations despite difficult market conditions.\n· Volume growth in Feeds and Fuels reflects headline growth and the contribution of acquisitions.\n· Decrease in revenue due to significantly lower oil prices in Fuels and lower commodity prices in Feeds.\n· Good cash generation with reduction in net debt despite completing two acquisitions in Feeds and Fuels.\n· Maintained significant financial flexibility for investment in growth initiatives. \n \nDivisional highlights:\n \n· Feeds - head...