Article
Drought impacts NWK income
Published: 03/02/2025
Last year’s drought is cited as the biggest contributor
to the almost 50% drop in the North West-based
agricultural company NWK’s half-year profit, from
R133 million in October 2023 to R69 million in
October 2024.
According to an NWK press release, most of the
company’s service area did not receive enough rain,
accompanied by extremely high temperatures during
critical phases of 2023/24’s crop development. The
region was able to realise only around 40% of the
previous year’s maize harvest, which amounted to only
a sixth of the average harvest.
However, NWK’s half-year income increased by 1,6%
from R2,897 billion in October 2023 to R2,943 billion
in October 2024. Despite the drought, NWK still issued
an interim dividend of 14c/share. This represents a total
of R15 million allocated for distribution to shareholders.
– Susan Marais, Plaas Media