News Column

United Kingdom : NEW funding deal approved by NWF Group

June 26, 2014

Agriculture and distribution business NWF Group has raised its finance facilities to 65m after finishing a new funding deal, and stated that it anticipate its financial results to be at the higher end of its expectations.

The Nantwich-based group has approved new long-term funding with the Royal Bank of Scotland for 5 years through to October 2019.

NWF said that the facilities have increased to 65m to support the group's future development and have been agreed on improved terms.

The purchase of SC Feeds in November 2013 has boosted its feeds division, despite "more subdued" market demand.

In the meantime, its fuels division has worked well in spite of a decreased demand for heating oil.

Chief executive Richard Whiting said: "NWF has delivered another solid performance and we are developing successfully as a result of targeted initiatives in all three of our divisions.

"The acquisition of SC Feeds has gone to plan and demonstrates the strategic intent of the group to continue investing in agriculture. The new financing agreement with RBS will support our future growth plans."

The group is prepared to declare its full year results in August.

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Source: TendersInfo (India)

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