FY21 provided some respite for businesses as inflation moderated down to the double digits for the first time in almost two years. The relatively stable operating environment allowed for increased focus on enhancing product portfolio and optimising the business models in the respective units for National Foods rather than preserving value on the Statement of Financial Position. Aggregate volumes for the group grew 15% y/y to 525,430 tonnes underpinned by recovering consumer spend on the back of a good harvest. Volumes in the flour division increased by 43%, buoyed by a strong performance in the pre-pack segment. Maize meal volumes remained ...
