Solid development reported by ForFarmers

The international feed company, ForFarmers, has reported “solid development” for the first half of 2015, with gross profits up 10.2% on the same period last year.

Although volume remained “flat”, excluding acquisitions, the company’s operating result increased by 8.7% to €32.6 million, up from €30m for the first half of 2014.

Further expansion in the UK, achieved during the report period, was “realised” by the acquisition of the feed business of Countrywide in May 2015.

Commenting that market conditions remained “challenging”, ForFarmers CEO, Yoram Knoop, highlighted the company’s commitment to use “nutritional knowledge and solutions” to help customers achieve “better technical and financial results” on their farms.

The company also said it will continue working on an optimal return for customers by offering the Total Feed concept and the continuous adjustment of feed solutions to trends and market conditions.

“It is expected that due to political tensions, fluctuations in the most important currencies like the dollar, sterling and euro, and uncertain weather and harvest forecasts, prices for the most important raw materials may fluctuate strongly, which may also impact the results of ForFarmers,” it said.

“Nonetheless ForFarmers expects, barring other unforeseen circumstances, a higher net result over the whole of 2015, compared to 2014.”

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