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04 Apr 2019 | 07:52

NWF pursues growth strategy with acquisition of Consols Oils

NWF Group acquired Consols Oils, the second fuels acquisition in the current year.

The firm said the deal is in line with its strategy to consolidate the fuels distribution business, in which the group is the third largest player in the UK.

Consols Oils is a 25m litre fuel distributor based in Redruth, Cornwall which expands the group's UK coverage by adding a leading supplier in West Cornwall, a new area for its fuels business.

NWF reported its growth strategy is to both expand the geographic coverage of the fuels business within the UK and consolidate businesses adjacent to the existing depot network.

The acquisition of Midland Fuel Oil Supplies (announced on 12 December 2018) has been integrated into the Kenilworth depot as planned and is performing well.

CURRENT TRADING

The group reported that current trading is in line with the board's expectations for the full financial year ending 31 May 2019 after the completion of the important winter period.

The Group said it will issue a year end trading update in mid-June.

Story provided by StockMarketWire.com
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