Poultry group Astral Foods has warned that profits will fall in its year to end-September after Covid-19 shut down fast-food restaurants and put pressure on selling prices.

It expects headline earnings per share (HEPS) to drop by not more than 25% compared with the 1,674c it reported previously, with the group also facing increased safety costs during the pandemic.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now