NWF Group Board is recommending a final dividend of 7.4p per share, to be paid to shareholders on 5 December 2025 (2024: 7.1p), giving a total dividend of 8.4p per share (2024: 8.1p).
Other financial highlights include:
The Group delivered a solid result for the full-year trading slightly ahead of initial market expectations, albeit with a different contribution mix from its three businesses than originally anticipated.
Group revenue decreased, largely reflecting the lower price of oil and agricultural feed commodities which offset higher activity levels.
Two Fuel acquisitions for total cash consideration of £9.9 million completed in line with the Board's stated strategy to consolidate the UK fuel distribution market, financed from the Group's existing cash resources.
Business improvement initiatives successfully implemented following in-year pilot of the Fuel's regional operating model, which is now being rolled out nationally.
Improved margins in Fuels reflected the benefits of cost management actions taken at the start of the financial year.
Decisive action taken in Food, following a disappointing performance, with management change and a restructuring process to right-size the cost base and create a simplified structure for future growth.
Positive market conditions in Feeds combined with continued effective management of gross margin and operational costs resulted in good progress over the prior year.
Strong balance sheet, providing ongoing flexibility to support continued focus on targeted acquisitions and organic investment and initiatives in existing markets.
With a strong pipeline, Fuels acquisitions are being actively pursued and the opportunity for growth through consolidating a fragmented market remains significant.
In Food, the benefits of the restructuring taken at the end of FY25 are expected to be realised through FY26 as the business focuses on converting its near-term customer pipeline as well as building longer-term demand to support future growth.
In Feeds, stable commodity and milk prices are expected to result in solid demand.
Performance in the current financial year to date has been consistent with the Board's expectations.
