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Our markets

The NWF business model is robust – outperformance in one division can offset tougher market conditions in another.

Market overview

  • Stable demand – up 1.5% year on year
  • Suppressed milk price in the first half of the year, improving in the second half of the year, up 31% to 26.9 ppl
  • Milk production down 5% to 11.8 billion litres
  • Commodity price increases with a double impact from sterling weakness

INVESTMENT
Completion of significant investment in the feed mills in the North and in Cheshire. £5.2 million invested in the year.

589,000 TONNES
Volume increase of 1.6% against ruminant market growth of 1.5% sold under the NWF, Jim Peet, S.C. Feeds and New Breed brands.

Market information

Market overview

  • Demand for our customers’ products continues to be stable and the outlook for most product categories handled by the business is resilient
  • The business operates in a competitive supply chain and needs to continually demonstrate the value and service that it provides to food manufacturers and importers
  • Market conditions remain difficult as the supermarkets fight for share in a static market
  • Warehousing remains in short supply

UTILISATION
Efficient utilisation of warehouse space and fleet. Storage levels stable and loads up 6% on prior year.

PALLETS
97,000 average pallets stored.

SERVICE
Service level maintained at 99.7%, supported by industry leading IT and systems.

Market information

Market overview

  • The business generated good volume growth which helped to mitigate lower market demand for heating oil due to a warm autumn and winter
  • The average Brent Crude oil price in the year was $51 per barrel compared to $45 per barrel in 2016, and was more stable in the year (between $42 and $57 per barrel)

GROWTH
Volume growth across the network.

513 MILLION LITRES
Volume increase of 8.2%.

30 MILLION
Cold starts contributed 30 million litres, ahead of expectation.

Market information