CHICKEN PRODUCER
Astral loses money on every chicken it produces
Surging input costs coupled with intensified load-shedding brew a dangerous cocktail at Astral that may result in job losses
25 January 2023 - 08:59
UPDATED 25 January 2023 - 22:30
Chicken producer Astral says it is costing the group R1m a day to keep generators running during load-shedding, warning that it could be forced into layoffs if the intensifying power outages continue unabated.
Astral, the country’s biggest producer of the staple protein, is the latest company to outline the rising cost of doing business in SA. The owner of the Goldi Chicken, County Fair and Festive brands flagged a hefty 90% drop in half-year profits, citing load-shedding, which prompted it to hike selling prices in 2022 to partially recover input costs...
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