Astral Foods diluted earnings plunge
Johannesburg - Poultry producer Astral Foods [JSE:ARL] on Monday reported a 82% plunge in diluted headline earnings per share to 94 cents in the six months ended March 2013 as operating profit slumped by 80% despite a 5% rise in revenue to R4.234bn. No interim divided was declared.
Headline earnings for the period decreased by 82% to R36m as a result of losses by the poultry operations. Losses reported by the poultry operations had a material impact on the group's operating profit which‚ at R64m‚ was 80% down on the profit for the same period for the previous year. The Feed and Other Africa operatio...
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