NATFOODS said investment in working capital reduced significantly during the period under review on the back of the return of creditor funding
National Foods volumes for the interim period to December 31, 2023, grew by 3,4 percent to 285 000 tonnes from the comparative period, largely driven by growth from the Stockfeeds.
The flour division also contributed to growth, though to a limited extent. Edwin Manikai, the group’s chairman, said in a statement of the financials that the gains were offset by losses in rice volume following the banning of exports out of India, which in turn led to a significant increase in global prices.