https://www.engineeringnews.co.za

Astral Foods foresees 120% HEPS increase for H1

Astral Foods foresees 120% HEPS increase for H1

Photo by Bloomberg

16th February 2015

By: Tracy Hancock

Creamer Media Contributing Editor

  

Font size: - +

Integrated poultry producer Astral Foods is reasonably certain that its headline earnings a share for the first half of the year will increase by at least 120%, or 465c a share, to 851c a share compared with the 386c a share reported for the comparable 2014 period.

The JSE-listed company based the improvement in earnings on trading conditions experienced up to the end of January 2015 and advised shareholders on Monday that the cause of the increase was as expected.

The improvement in Astral Foods’ results for the six months ending March 31 was attributed to healthy global maize and soya crops, which resulted in the softening of grain prices and, subsequently, benefited feed prices and livestock production costs. The increased feed volumes that included production from the recently commissioned Standerton feed mill, in Mpumalanga, previously supplied by Afgri, were also highlighted, as were increased poultry sale volumes. In particular, Astral Foods noted its expansion in the Western Cape, which included broiler chickens, formerly processed by Tydstroom Poultry and currently contracted from diversified feeds and poultry business Quantum Foods, which owned Tydstroom.   

Astral Foods said the increased poultry sale volumes were the result of good poultry production efficiencies and the fact that cutbacks in the year-ago comparative period were not being repeated. 

“It is [also] notable that Astral did not benefit from lower levels of imports, especially bone-in portions from European Union countries, as the temporary antidumping measures introduced by the International Trade Administration Commission did not have the desired impact,” the company explained. 

Astral would announce a more definite range of the increase in earnings once available and expected to publish its interim results for the first half of 2015 on May 18.

Edited by Creamer Media Reporter

Comments

Latest News

Magazine video image
Magazine round up | 29 March 2024
29th March 2024

Showroom

Yale Lifting Solutions
Yale Lifting Solutions

Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...

VISIT SHOWROOM 
Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.11 0.172s - 170pq - 2rq
Subscribe Now