NWF Group PLC (AIM:NWF) saw its shares jump nearly 7% higher in early trading on Thursday as the AIM-listed firm said it anticipates that its full-year result will be "significantly ahead of market expectations".
In a trading update for the current year ending 31 May 2023, the specialist distributor of fuel, food and feed across the UK said that after delivering a very strong performance in the first six months of the year, the good momentum has carried over going into the second half.
NWF said trading in all three of its divisions has continued to be strong, with the performance across its third quarter ahead of internal expectations, including the benefit of a good first contribution from the Sweetfuels business, acquired in December 2022.
The company added: "Whilst final quarter trading continues to be subject to seasonal factors, the strong year-to-date performance together with the supportive backdrop entering March means that the board now anticipates the group's full-year result to be significantly ahead of market expectations with full-year headline profit before tax not less than £17.5 million."
In early morning trading, shares in NWF were up 6.6% at 275p.