Astral to hatch record earnings growth


Astral to hatch record earnings growth

Published Date: 2018-05-03 | Source: Stephen Gunnion | Author: Stephen Gunnion

Astral to hatch record earnings growth

Results from the poultry producer will be even better than previously anticipated due to a strong couple of months in February and March

Astral Foods has given clearer guidance on its interim results - and the news is good. The poultry producer says earnings and headline earnings per share for the six months ended March will be up to 460% higher than last year. The improvement on a general trading update issued two months ago is due to continued favourable trading conditions and good farming performances in the period to end March. Astral says that it's incurred no further losses as a result of the impact of Avian Influenza or Listeriosis during the six month reporting period.

The group's results in the comparative period a year early were negatively affected by abnormally high feed costs and there has since been an improvement in trading conditions. Poultry prices also remained firm following the end of the festive period, whereas in the past they tailed off. It benefited from efficiencies in its on-farm poultry production as well.

It is scheduled to release its results on 14 May. Its shares rose 6.1% to R326 yesterday.

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