A trading update from the NWF Group reports solid demand for its animal feeds over the first half of its financial year to November 30th. First half figures are due in early February.
The Group’s Feeds division – NWF Agriculture – reports continued solid demand across the first half, although feed volumes were a little lower than in the prior year. Trading was in line with management expectations and the same period last year. However, the business adds that managing the significant volatility in feed commodity costs – which recently reached record highs – is a challenge for agricultural markets.
The cyber incident that affected the Group in early November has been contained with no material impact on Group trading or commercial performance. of the business. Additional security measures have also been integrated into the Group’s IT systems to provide further resilience moving forward.
“Our three divisions Feed, Food and Fuels – remain open and fully operational, given that they all provide essential services,” states NWF Group chief executive Richard Whiting. “We continue to monitor the latest developments on Brexit, have contingency plans in place where necessary and, critically, operate in large stable domestic markets with robust levels of demand.”