Quantum Foods boosts profits, pays maiden dividend
In a rare piece of good news from the drought-hit agricultural sector, Quantum Foods on Thursday recorded headline earnings for the year to September of R126-million, up from R26 million in the previous corresponding period, and declared a maiden dividend.
The diversified feeds and poultry business, which was spun out from Pioneer Foods and listed in October 2014, saw a 2.6% decrease in revenue to R3.5-billion in the period under review, but said the overall improvements were driven by a significant change in the business model as well as favourable trading conditions.
Quantum, which is now the biggest broiler contract grower in South Africa, supplying its own feed and day-old chicks, said trading conditions had improved for companies in the poultry sector.
“Maize and soya meal costs were lower than in 2014, despite substantial increases in the second half of the year, following the much lower than expected South African maize crop and the further weakening of the rand.
“Egg prices improved due to a balanced supply and demand in the market, and broiler prices increased despite the continued increase in imports.”
Headline earnings came in at 54 cents per share, up from 11 cents last time, and a maiden dividend of 10 cents per share was declared.
Comments
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation