The boss of Astral Foods retires at the end of the year but leaves the company in good shape
07 November 2024 - 05:00
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Few CEOs in South Africa have faced the formidable challenges that Chris Schutte has had to confront. The boss of Astral Foods retires at the end of the year but leaves the company in good shape, despite an outbreak of avian flu last year that killed almost 10-million chickens — about a third of South Africa’s stock — power cuts and water shortages from an indifferent local authority in Standerton, home to its main factory.
The country’s biggest chicken producer expects headline earnings per share of R18.53-R19.85 for the year ended September 30, recovering from last year’s R13.24 loss per share, its first loss in 24 years.
A bad week for Mokgweetsi Masisi
You have to hand it to Africa’s biggest loser of the past fortnight, Mokgweetsi Masisi. At least he took it on the chin. Once he’d lost the general election in Botswana, the president conceded with good grace.
It’s not something that happens often in African politics, or elsewhere for that matter.
What would have made the defeat all the more difficult to take was that Masisi’s party, the Botswana Democratic Party, has ruled the country since independence 58 years ago.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
A good week for Chris Schutte
The boss of Astral Foods retires at the end of the year but leaves the company in good shape
A good week for Chris Schutte
Few CEOs in South Africa have faced the formidable challenges that Chris Schutte has had to confront. The boss of Astral Foods retires at the end of the year but leaves the company in good shape, despite an outbreak of avian flu last year that killed almost 10-million chickens — about a third of South Africa’s stock — power cuts and water shortages from an indifferent local authority in Standerton, home to its main factory.
The country’s biggest chicken producer expects headline earnings per share of R18.53-R19.85 for the year ended September 30, recovering from last year’s R13.24 loss per share, its first loss in 24 years.
A bad week for Mokgweetsi Masisi
You have to hand it to Africa’s biggest loser of the past fortnight, Mokgweetsi Masisi. At least he took it on the chin. Once he’d lost the general election in Botswana, the president conceded with good grace.
It’s not something that happens often in African politics, or elsewhere for that matter.
What would have made the defeat all the more difficult to take was that Masisi’s party, the Botswana Democratic Party, has ruled the country since independence 58 years ago.
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Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.