Astral confident interim EPS will rise by 365%
Integrated poultry producer Astral Foods expects to deliver another robust set of results for the six months ending March 31, notwithstanding the backdrop of constrained consumer spending in South Africa.
In a voluntary trading update issued on March 18, Astral says it is experiencing strong demand for poultry products, which has allowed the company to increase broiler production volumes.
Poultry selling prices are also recovering following a prolonged period of selling price deflation in 2024.
On the back of the higher broiler production volumes, Astral’s feed division benefitted from in increase in internal poultry feed sales, as well as growth in external feed sales.
The company expects to report an improvement in poultry margins owing to favourable feed input costs released on lower commodity prices.
Astral continues to have a well-controlled cost base overall, which, coupled with food farming performances and no significant business disruptions, will result in an earnings per share (EPS) increase of at least 365% to R21.95 for the six months to end-March.
This compares with the EPS of R4.72 reported for the first half of the prior financial year.
Headline earnings per share (HEPS) will increase by at least 435% to R21.88, compared with HEPS of R4.09 in the prior comparable period.
Astral’s balance sheet remains in a healthy position as a result of the improved financial performance and prudent cash management.
The company will release a further trading statement in April, providing the requisite EPS and HEPS ranges that it is likely to report for the interim period.
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