South African poultry company Astral Foods projects a 300% rise in headline earnings per share (HEPS) to 654 rand, recovering from its first operating loss due to bird flu and power cuts.

South Africa's largest poultry producer, Astral Foods, is expected to return to profitability in the half-year ending March 31 as the effects of the country's bird flu outbreak and power cuts decrease. Astral reported that headline earnings per share (HEPS) will increase by at least 300% to 654 rand, from 163 rand during the same period last year. The company faced a 621 million rand operating loss due to the bird flu outbreak costs and diesel expenses last year.

January 31, 2024
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