Astral’s earnings update points to brighter second half
Full-year earnings forecast to be 25% lower than a year earlier, an improvement on a 37% decline in the first half
Astral, SA's largest poultry producer, says its annual results for the 12 months to end-September will be 25% lower than the previous year, mainly as a result of higher input costs.
Maize and soya, which are used in animal feed, have risen steadily over the past 18 months due to increased demand in China. But local food producers have struggled to pass on these costs to embattled consumers who are simply cutting expenditure...