Poultry group Quantum Foods' decision to sell its abattoir to Sovereign for R120m so as to focus on eggs, feed and broiler farming helped it grow interim revenue, but its profit halved. Quantum reported 13% interim revenue growth to R2bn, but its after-tax profit fell 47% to R32m in the six months to end-March, according to its results released on Thursday. The group splits itself into four segments, of which only two were profitable. Animal feeds contributed 37% of the group’s revenue, and its R40m profit contribution helped compensate for a R22m loss from its egg division and R9.3m loss from its rest of Africa division. The feeds division grew revenue 21%, which was not simply due to the drought pushing up crop prices because its profit grew 29%. The division was boosted by the acquisition of a feed mill at Olifantskop in February. Its broiler farming division contributed a third of the group’s revenue and R37m profit. Its revenue grew 8.6% and profit 19%. Its egg division grew re...
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