Astral Foods share rises after trading statement predicts doubled earnings
By Robert Laing - Oct 16th 2017, 13:10
Poultry producer Astral Foods expects to report doubled earnings thanks to higher prices and no further bird flu outbreaks.
Astral’s share price rose 4.5% to R182.50 after it issued a trading statement on Monday saying it expected to report on November 20 that its headline earnings per share (HEPS) for the year to end-September would be about twice the previous year’s R9.65.
Astral said it was raising its previous forecast issued on September 20, which said HEPS would grow more than 65%, thanks to "the fact that no further losses were incurred as a result of the outbreak of avian influenza for the remainder of the 2017 financial year".
"The all-around trading results for the month of September were also significantly better than expected at the time of the trading update published," Astral said.
© BusinessLIVE MMXVII
Trade body will have a bone to pick in poultry tarrif case
14/06/2019 - 09:30
Those with intimate knowledge of the tariff application say that ITAC's position is akin to a zero-sum game, where they may have to choose between exposing local poultry producers to cheap imports they cannot compete with, or raising consumer prices for poultry to impossibly high levels.
There's no truth to importers' threats about 'expensive' chicken
05/06/2019 - 08:58
Don't rely on the chicken importers for the facts. In a massive public relations exercise to turn opinion against higher import tariffs, they have relied on assertion, misdirection, misinformation, and bluster. Facts are few and far between.
How imports threaten survival of SA’s small chicken farmers
06/05/2019 - 14:39
The SA Poultry Association has warned that more local chicken farmers could soon go out of business due to cheap Brazilian imports.
Chicken prices may spike by up to 32% due to tariff increases, says importers
18/04/2019 - 09:22
Increasing tariffs on imported poultry products could hike chicken prices by up to 32%, says consumer bodies and importers and exporters organisation.
SA poultry industry wants hefty increase in tariffs to protect local industry
17/01/2019 - 13:20
The South African poultry industry has defended its application for a hike in import tariffs of frozen chicken portions to 82%, saying the cheap chicken imports mainly from Brazil hurt the competitiveness of local producers.