Astral Foods braces for ‘unprecedented’ SA jobless rate
The poultry producer is an essential service, but does not expect to avoid the economic fallout of the Covid-19 pandemic
18 May 2020 - 08:04
Poultry producer Astral Foods has opted to hold on to its interim dividend as it braces for the economic fallout from the Covid-19 pandemic. That has already led to oversupply of fresh chicken in the market and should dampen demand for higher-margin products.
The group, which is an essential service as a food producer, said it was facing the prospect of higher input costs as global supply chains were disrupted, while problems in SA, such as load-shedding, increased costs in its six months to end-March...
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