NWF Group plc
NWF Group plc is a UK specialist distributor operating in three segments: Fuels (distribution of domestic heating oil and commercial/road fuels), Food (warehousing and distribution of ambient groceries for UK grocery retailers, trading as Boughey Distribution), and Feeds (manufacture and distribution of animal feeds to farmers, trading as NWF Agriculture and New Breed (UK)). The Group connects suppliers (oil refineries/terminal owners, grocery manufacturers, agricultural commodity traders) with customers (domestic/commercial fuel buyers, grocery retailers, farmers) across England and Wales, adding value through sourcing, warehousing, consolidation and distribution.
FY2026 in sixty seconds
year to 31 May 2026 · approved 28 Jul 2026 · 119 pages · Companies House
NWF Group plc distributes heating oil and road fuels, stores and delivers groceries for supermarkets, and makes animal feed. In the year to 31 May 2026 revenue rose 1.9% to £920.3m, from £903.1m, and profit before tax rose to £12.4m from £9.3m.
Much of the jump reflects one-off costs that held back the previous year. Profit before the company's adjustments edged up to £16.8m from £16.3m. This year's one-offs included an insurance payout and a gain on a cheaply bought acquisition. Food grew on higher storage volumes. Fuels sales were lifted by higher late-year oil prices and two small acquisitions, while a falling milk price weighed on animal feed.
The company ended the year with £9.0m of cash and no bank borrowings drawn, and raised no new money from shareholders. The proposed dividend rises to 8.7p a share, the fifteenth yearly increase. The chair called the result only slightly below initial market expectations, and management expects a lower milk price to depress feed volumes. The auditor gave a clean opinion, but an HMRC tax investigation remains unresolved, with no provision made.
Fuels volumes and oil price/volatility
Fuels revenue increased by 4.0% to £636.7 million (2025: £612.3 million) driven by the increased quarter of the year price; volumes slightly below prior year at 647 million litres (2025: 660 million litres)
page 11Oil price and diesel/heating oil volatility (Middle East conflict)
Brent crude ranged $59-$118/barrel in year; sharp Q4 volatility due to Middle East conflict suppressed demand/margins in first half, benefited Q4
page 11Chair: resilient performance delivering a full year result only slightly below initial market expectations; Group continues to make strategic progress to create a platform for growth in Food, and by bolt-on acquisitions in Fuels
page 9Board recommending a final dividend of 7.7p per share (2025: 7.4p), to be paid 4 December 2026, giving a total dividend of 8.7p per share (2025: 8.4p) - an increase in dividend for 15 consecutive years; headline dividend cover 2.1x (2025: 2.2x)
page 912 years on one page · FY2015–FY2026
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GBP millions, negatives in brackets. Per-share lines in pence. Share counts in millions. Margins and returns as percentages, calculated from the filed figures. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
14 figures restated in a later report
Every figure is read again from the following year’s report: 483 confirmed, 12 differ, 14 restated.
| Line | Year | As first filed | In the later report |
|---|---|---|---|
| FY2024 | £0FY2024 report | £6.4mFY2025 report | |
| FY2024 | £10.0mFY2024 report | £16.4mFY2025 report | |
| FY2024 | −£6.3mFY2024 report | −£3.3mFY2025 report | |
| FY2024 | £238mFY2024 report | £244mFY2025 report | |
| FY2024 | £110mFY2024 report | £116mFY2025 report | |
| FY2024 | £101mFY2024 report | £107mFY2025 report | |
| FY2024 | £152mFY2024 report | £159mFY2025 report | |
| FY2024 | £81.1mFY2024 report | £91.1mFY2025 report |
6 more figures were restated in FY2015 to FY2023, which a free account opens.