Quantum Foods’ full year operating profit plunge 11% despite growth in revenue

SOUTH AFRICA – Quantum Foods, South African animal feeds and poultry producer has reported that the group revenue for the year ended September 2020, increased by 15.3% to R5.1 billion (US$334m). The company headquartered in South Africa also has operations in other African countries i.e. Zambia, Uganda and Mozambique, focusing primarily on production of animal feeds and layer & broiler farming. Despite the rise in earnings, the company’s operating profit decreased by 11% to R218m (US$14.2m) from R245m (US$16m), attributed to the increase in cost of sales which rose by…

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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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Quantum Foods’ Directors buy US$1.1m worth of stake amid rising interest by third parties

SOUTH AFRICA – Four board members of South African animal feeds and poultry producer, Quantum Foods have bought about R20m (US$1.1m) of the group’s shares, amid rising interest for the company’s stake by various third parties. Share purchases by the Directors include an almost R15.8m (US$0.93m) spend by Board Chair Wouter Hanekom, who now holds 5.2% of SA’s largest egg producer, reports Business Live. The group, which has a market capitalisation of R1.3bn (US$77m), had revealed that at least one third party was in talks with some of its institutional…

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Agribusiness investor Zeder disposes 32.1% stake in Quantum Foods for US$18m

SOUTH AFRICA – Agribusiness and food industry focused investment group, Zeder Investments has offloaded all its 61.6 million shares, representing 32.1% stake held in Quantum Foods Holdings Limited, a JSE-listed feed and poultry products firm to Country Bird Holdings Proprietary Limited (CBH). CBH is an integrated poultry and stock feed business with operations in South Africa, Botswana, and Zambia. According to Zeder’s statement announcing the disposal, the company has sold the shares at R5 per share fetching a total of R308m (US$18m). The value of the net assets comprising the…

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Quantum Foods half year profits plunge 51% despite growth in revenues

SOUTH AFRICA – Quantum Foods, South African animal feeds and poultry producer, has reported 51% decline in operating profit to R121m during the six months to end March 2019 attributed to economic pressure on both divisions. Quantum said that the decline in performance was largely affected by rising raw material costs for its animal feed business and declining egg prices which heightened volatility in its business. According to a Business Day report, the firm said that dry conditions in the maize-producing areas especially in North West and western Free State…

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South Africa’s poultry products firm Quantum Foods reports 13.6% decline in earnings

SOUTH AFRICA – Quantam Foods, a feed and poultry products firm in south Africa, recorded 13.6% decline in its egg business during the first four months to January 2019, reports Business Day. Compared to earnings in the corresponding period of the previous year, Quantam had posted a significant decline in earnings which it attributed to decreasing egg prices and an increase in feed raw materials. During the previous period, earnings were exceptionally high due to low feed raw material costs and a significant increase in egg selling prices. These mitigated…

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Sea Harvest fish and Quantum poultry firms lift profits

SOUTH AFRICA – Two white-meat producers have beefed up profits, with listed fishing group Sea Harvest and poultry producer Quantum issuing upbeat trading statements. The Sea Harvest group said the maiden financials, due for release in early March, would show basic headline earnings coming in at 99c-113c a share, an increase of 74%-98% compared with the previous financial year. Sea Harvest attributed the improved performance to robust South African operations, which are mainly centred on the hake industry. The group noted strong market demand for Cape hake globally as well…

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Quantum Foods expects significant results improvement

SOUTH AFRICA – Quantum Foods shares surged as much as 18% on Thursday, after issuing a trading update stating they expect a much improved financial performance. The chicken feed and egg producer expects headline earnings per share in the year to September to rise by up to 85%, benefiting from lower input costs. The trading update helped soothe market concerns about avian flu, which hit some of its hen houses in the Western Cape. The company said it took a R30m charge for the layer hens destroyed and associated clean-up…

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