Wed, 10 Aug 2011 | BUSINESS NEWS
Food, farm feed and fuel distribution company, NWF, is planning to make a number of business acquisitions in the UK in a bid to take advantage of volatile commodity prices.
The company's chief executive, Richard Whiting, said that they were already engaged in talks with a number of potential targets, following on from the recent announcement of their very positive full-year results. The company saw a 7 per cent rise in pre-tax profits to £7.6 million, after its animal feedstock arm saw earnings nearly double.
"We are actively involved in a number of discussions within the fuel sector and are looking very hard at some smaller feedstock companies as well," said Mr Whiting.
The company, which delivers to businesses across the UK, is thought to provide the feed for one in seven of all dairy cows in Britain. The feed division was the best performing in the group, with a sharp jump in margins from 2.2 per cent to 3.6 per cent.
Its fuel arm was less successful, however, as customers were buying less in each delivery, causing NWF to have to make more trips. Mr Whiting said that they would likely be making acquisitions in their fuel operations before making them in their feedstock operations, as the overall success of the feedstock industry in the last year was making rivals less likely to sell.
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