EDITORIAL: Astral’s losses highlight SA’s municipal mess
Power cuts, water disruptions and bird flu behind poultry producer’s poor performance
If there’s one company that has shone the spotlight on the mess in the governance of our municipalities, it is Astral Foods. SA’s largest poultry producer swung to a staggering loss of more than R500m in the year to the end of September.
The main causes of this dismal performance were power cuts, water disruptions and bird flu. These factors not only harmed Astral’s investors and workers but also revealed the deep-rooted problems in the country’s local government system...
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