Tue, 03 Aug 2021 | BUSINESS NEWS
Agricultural firm NWF has said it will consider targeting acquisitions after reporting strong results despite the impact of Covid-19, Brexit and a cyber attack.
In the year to May 31 2021, the firm registered revenues of £675.6 million and operating profits of £12.9 million. While these figures were both down on the previous year, they still exceeded NWF’s pre-pandemic expectations, while operating profits were the firm’s second highest on record.
This performance was driven by strong sales in fuels as a result of factors including the UK’s cold winter and the increase in working from home. Meanwhile, a new warehouse drove a strong recovery in the firm’s food business and its feeds business was bolstered by a rise in commodity prices.
NWF Chief Executive Richard Whiting commented: “NWF has delivered another strong set of results, ahead of expectations set before the pandemic, demonstrating continued performance, delivery and resilience.”
“Our teams have worked hard during the year meeting customers’ needs whilst staying safe. I’m proud of how we have responded to the challenges of Covid-19, Brexit and a cyber incident and exited the year strongly, with significant financial capacity and a clear growth strategy.”
This has resulted in the business saying that it will target possible acquisition opportunities as it looks to capitalise on its strong prospects for future growth.
Whiting added: “There is a significant opportunity for growth backed by strong cash flows and flexible banking facilities alongside a strong asset base. We will, therefore, continue to consider acquisition opportunities, building on our successful track record of acquiring and integrating businesses, as well as investment in organic development.”
“Performance to date in the current financial year has been in line with the board’s expectations. Overall, the board continues to remain confident about the group’s future prospects.”
Find businesses for sale here.
If you are looking for an exit, we can help!
Designs and manufactures high-quality beauty and spa products, own-brand false eyelashes, cosmetics bags, stuffed toys, and many other bespoke goods.
RELOCATABLE
Offers the custom design and manufacture of power electronic equipment, supplying products to high-end high-specification industries. Established a loyal, international client base, primarily within the rail and defence sectors. All products are bas...
LEASEHOLD
The company designs, manufactures and supplies an extensive range of standard and bespoke synthetic timber products, utilising recycled materials to produce quality items with enhanced performance. Operating nationally, the company has enjoyed a long...
LEASEHOLD
|
09
|
|
Dec
|
Vertu acquires premier car outlets at 6.8x EBITDA | BUSINESS SALE
Motor retailer Vertu has acquired premier car firm Helston G...
|
08
|
|
Dec
|
Firm targeting support services acquisitions raises £134m war chest | BUSINESS NEWS
Private equity investor Aliter Capital has raised £134...
|
07
|
|
Dec
|
Assets up for sale as surveillance tech manufacturer enters administration | ADMINISTRATION
Surveillance technology manufacturers Seven Technologies Gro...
Sign up to receive our acquisition alert emails to get your FREE guide
|
10
|
|
Aug
|
NWF on the look out for acquisitions | BUSINESS NEWS
Food, farm feed and fuel distribution company, NWF, is plann...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources