Great recovery

Moxima Gama

Poultry producer Astral Foods said in a recent trading statement that it expects a “material turnaround” in its finances for the year to end September, driven by a decline in feed costs during the second half of the financial year, which contributed to a recovery in profit margins. It also reported stable selling prices for poultry products during the winter months, Astral said. As a result, both earnings and headline earnings per share are expected to rise by at least 65% year-on-year. Both earnings and headline earnings per share are expected to rise by at least 65% year-on-year. The poultry industry has been under immense pressure in recent years as a massive drought drove feed prices higher, while rising imports depressed selling prices. A recent outbreak of avian flu has also forced the…

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Finweek - English (Digital) - 1 Issue, 19-oct-17

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