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flag Australia's top chicken supplier cut profit forecast after a 65% drop in first-half profits due to rising costs and supply issues.

flag Inghams Group, Australia's largest chicken supplier, slashed its full-year profit forecast after first-half net profit fell 65% to $18.1 million, missing expectations. flag Revenue held steady at $1.6 billion, but rising costs from labor, ingredients, utilities, and packaging—plus $29.5 million in transition expenses from shifting to performance-based grower contracts—weighed on results. flag Excess inventory and supply chain adjustments further pressured margins, leading to a 16% share price drop. flag Despite a slight improvement in underlying earnings and progress reducing processed poultry inventory, CEO Ed Alexander called the outcome disappointing amid ongoing inflation and operational challenges.

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