NWF Group, which has Boughey as one of its core businesses, has enjoyed an impressive rise in income revenues for the equivalent period in 2016/17. The agriculture and distribution business has seen a significant rise in profits in the six months up to the end of November 2017. This is encouraging to see, in such a challenging economic climate.
NWF has been a well-established company since it was founded in 1871. As well as its warehousing and distribution division with Boughey Distribution, it’s also a leading supplier of animal feeds and is the third largest fuels distributor in the UK. During H1 2017/18, the Cheshire-based feeds sector of the company amassed a pre-tax profit of £1.9 million. This is up from £1.3 million in like-for-like profit on the previous year, a 46.2% increase.
The Group is a strong, profitable and resilient business, with investments and operations across the UK. It’s further strengthened by substantial assets and the availability of financing to fund further development. The improvement on the feeds sector figures is being attributed to forward-thinking investment in its Wardle site and other areas of the business last year. Total revenues for NWF Group overall stood at £295.8 million, which is 15.6% up on the £255.9 million reported for H1 2016/17.
Martyn Nicolls, Commercial Director at Boughey Distribution, is buoyed by the new financial figures: “As a key facet of NWF Group, it’s heartening to see that its continued shrewd investments are now delivering in the long-term. In business, it’s always easier to consolidate success from a position of strength and these figures for 2017-18 are encouraging for all aspects of the business.”