Astral Foods is a poultry and agricultural feeds producer with operations in four countries in Southern Africa. It benefits from vertical integration as it produces about 1.3Mt of maize annually and just under 60% of that maize is sold internally to its chicken production facilities. So the chickens, or broilers, they raise (almost 1-million hatched per day), are fed maize Astral produces. The rest of the maize is sold as feedstock. In total, the feed business generated about R3bn worth of revenue over the first half of this financial year (R6.bn in the previous financial year), and made a profit of R192m over the same six-month period. Chicken is SA’s number one protein. Astral Foods sells more than 230,000t a year, and generated R9.8bn during the past financial year. So far this financial year it generated R5.48bn, resulting in a profit of R836m for the six-month period. Of that about 51% of total sales volume is mixed portions of chicken pieces, aimed at the lower LSM market. Chi...

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