From SENS
Astral Foods has released its interim results, trading just under a percent up on the day, with a market cap of R4.3bn, and strength in its year on year share price of 14.84%, despite significant volatility seen in the share price.
Highlights from the results:
- Revenue increase 11%
- Operating profit increase 260%
- Earnings per share increase of 96%
- Headline earnings increase of 308%
- Interim dividend of 200 cents per share
Slowing level of growth in economy and higher unemployment levels will continue to depress consumer spending. Coupled with other factors like industrial action in mining sector, will continue to impact profit margins in industry. If the South African Poultry Association application to International Trade Administration Commission for anti-dumping duties against EU is successful, this will go some way to improving the imbalance in supply and demand for chicken.
For the full SENS report, Click Here
