Astral Foods warns of profit drop as grain prices soar
Poultry producer struggles to recover increases in feed costs due to constrained consumer spending
16 March 2021 - 08:42
UPDATED 16 March 2021 - 19:31
Poultry producer Astral Foods has warned of a sharp fall in profits for its six months to end-March, as the owner of Goldi Chicken and County Fair brands struggles to recover increases in feed costs due to constrained consumer spending.
The group, which was established and listed in April 2001 on the JSE after Tiger Brands unbundled its agricultural operations, said in a trading update on Tuesday that headline earnings per share is expected to fall by no more than 45% to end-March, coming in at least 523c per share...
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