Astral Foods undertakes new executive appointments, introduces new role

SOUTH AFRICA – Astral Foods Limited (Astral), South Africa’s leading integrated poultry producer, has appointed Mr. Gary Arnold, as the Chief Operating Officer (COO) of Astral with effect from 1 October 2021. This new position has been introduced with a specific mandate to optimise expansion opportunities and continuous improvement initiatives, whilst effectively allocating capital and human resources across all Astral divisions. Mr. Arnold, who is currently the Managing Director of Astral’s Agriculture Division, will continue to report to the Chief Executive Officer of the company. He has been with the…

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High feed costs, poultry imports slash Astral Foods half year earnings by 37%

SOUTH AFRICA – Astral Foods, integrated poultry producer in South Africa has reported a 7% rise in half year revenue for the period ended March, from R7 billion (US$500m) attained in the previous corresponding period to R7.5 billion (US$535.5m). This was achieved through a combination of increased broiler sales volumes and a below inflationary increase in selling prices. However, the company’s profit line took a hit as its operating profit declined by 37% to R345 million (US$24m). Headline earnings per share were down by the same margin – that is…

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Astral Foods expects its half year profit to nearly half impaired by COVID-19, high feed costs

SOUTH AFRICA – Astral Foods Limited (Astral), South Africa’s leading integrated poultry producer 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 JSE listed company said in a trading update that headline earnings per share is expected to fall by no more than 45% on the comparative previous interim period’s results of 951 cents per share, coming in at least 523c per…

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Astral Foods’ earnings down 13% despite 5% rise in revenue

SOUTH AFRICA – Astral Foods Limited (Astral), South Africa’s leading integrated poultry producer has reported a 5% rise in revenue to R 14.1 billion (US$916.96m) in the year ended 30th September 2020 from R13.5 billion (US$877.94m) in 2019. Despite of this, the chicken producer’s profit has fallen by 13% to R561 million (US$36.4m) from R638 million (US$41.49m) in 2019, as the poultry industry continues to battle with the impact of Covid-19 and higher feed costs. Its Earnings per share decrease down 13%, Headline earnings per share decline by 14% while…

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Astral Foods expects its HEPS to decline by 25%, CEO Chris Shutte hospitalized after motor accident

SOUTH AFRICA – Astral Foods Limited (Astral), South Africa’s leading integrated poultry producer is expecting its operating profit to be down by not more than 15% for the year ending 30th September 2020. The group indicated that the earnings per share (“EPS”) and headline earnings per share (“HEPS”) for the period are expected to be also down by not more than 25% on the comparative previous year’s reported results. Astral Foods reported Heps of 1 674 cents a share and EPS of 1 659 cents last year. However, in the current financial…

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Astral Foods acquires 6.42% stake in Quantum Foods protecting poultry supply agreement

SOUTH AFRICA – Astral Foods Limited (Astral), South Africa based integrated poultry producer, has acquired 6.42% beneficial interest in securities of Quantum Foods Holdings Limited (Quantum), South Africa’s animal feeds and poultry producer. Astral has cited that it has acquired the stake in bid to protect its broiler supply agreement with the company amid a scramble for Quantum shares by third parties. “Following a material change in the shareholding of Quantum, Astral has been concerned that its current broiler supply agreement with the company could be jeopardised over the long-term,”…

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Astral Foods’ earnings down 55% despite a 3.9% revenue increase

SOUTH AFRICA – South Africa’s integrated poultry producer Astral Foods, reported a 3.9% group revenue increase to R13.5bn (US$0.9bn) for the full year ended September 2019. Despite increase in revenue, the groups operating profit fell 55% to R882m (US$59.7m) compared to the R1.9bn (US$0.12bn) reported in 2018. The poultry division’s operating profit was down 74.5% from R1.5bn (US$0.10bn) reported in 2018 to R371m (US$25.1m), mainly due to tough trading conditions especially increase in poultry imports which remained high and constrained consumer buying power. Its feed division increased its profit by…

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Astral Foods signs water emergency agreement to avert supply constrains

SOUTH AFRICA – Astral Foods, a South Africa based integrated poultry produce, said that it had signed an emergency agreement with Standerton (Lekwa) Municipality as an interim measure to stave off the current water crisis. This is after the company faulted water supply constraints stemming from the deterioration of infrastructure in the Lekwa municipality which supplies its processing plant in Standerton as having significant cost implications for the company. According to an IOL Business report, the company said that under the agreement, the municipality has committed itself to supply a…

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Astral Foods reports 52% decline in earnings as poultry division declines stumbles

SOUTH AFRICA – Astral Foods, a South African poultry producer, has reported a 52% decline headline earnings for the six months to end-March 30 2019 attributed to a significant decline performance of the poultry division. Despite a 3% growth in revenues to R6.8bn, the company said that higher cost of sales and distribution expenses also dented the firm’s profits “Feed price and production cost increases could not be recovered by increasing sales realisations due to the consumer market not being able to absorb price increases,” the company highlighted. Astral, which…

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South Africa’s poultry producer Astral Foods reports decline in operating profit

SOUTH AFRICA – South Africa’s integrated poultry producer, Astral Foods, said its operating profit for the first quarter of its 2019 financial year was significantly low blaming low consumer spending and high poultry stock for the decline. Astral said that constrained consumer spending in the country had a significant effect on the average selling prices, reports Business Report. “It must be noted that the previous year’s results for the same period were at a record historical high, benefiting at the time from low feed costs following a record maize crop…

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