Quantum Foods’ share price up 16% after upward revision to expected HEPS
Egg, poultry and feed producer Quantum Foods revised its expected headline earnings per share (HEPS) for the half-year to end-March for the second time this year, bolstered by higher egg prices.In its third trading update this year, the producer said HEPS was expected to increase to between 81.3c and 87.7c. Earnings per share were expected to rise by between 483% and 503%, or to between 81c and 83.8c, the statement read.Quantum’s share price rose as much as 16% before gains were pared, with the company’s share price up 12% to R5.25 at 10.45am.Quantum, which was unbundled from Pioneer Foods in 2015, has gained 42.28% in 2018. This includes a 23% jump in March, when it said it expected HEPS to rise by at least 516%. Rival Astral Foods has gained 21.8%Quantum said in February that the egg business had significant tailwinds, but average selling prices per dozen eggs had increased 32% in the first four months of the financial year. Production costs lower due to a decline in feed costs.Lo...
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