NWF GROUP PLC (NWF) — Full Year Results

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to the NWF GROUP PLC Final Results Investor Presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged, and they can be submitted at any time using the Q and A tab situated on the right hand corner of your screen. Simply type in your questions and press send. Before we begin, I would like to submit the following poll. And I would now like to hand you over to CEO, Chris Belsham. Good morning to you. Thank you, Alex. Hello, and welcome to the NWF GROUP results presentation for the year ended 05/31/2026. I'm Chris Balsham, the CEO, and I'm joined by Katie Shortland, our CFO. And we'll start with the highlights of the period. Against the backdrop of a highly variable oil market, I'm pleased the group has demonstrated its resilience in delivering a full year result only slightly below initial market expectations. And importantly, at the same time, building on the foundations for growth, we have continued our strategic progress with business improvement initiatives across the group to strengthen our capability and enhance our systems and processes to develop the existing business, but also to make us scalable for growth. In fuels, we rolled out our new regional operating model in July 2025, and we continue to embed that model so that we can realize the operational and commercial benefits. We also undertook two further bolt on acquisitions, which were integrated into our Northwest region. In food, we saw a 19% increase in operating profit as we secured new business and started to proactively pursue the strategic option create a national network of scale. And in feeds, we made the most of largely positive market conditions through effective management of gross margin and operational costs. Ou...