<\/p>\n
Poultry producer Astral Foods reported an 11% increase in revenue and a sharp rise in operating profit off a low base as lower feed costs and stronger poultry demand lifted margins across the group.<\/p>\n
Headline earnings per share (Heps) for the six months ended 31 March 2026 increased to 2 318 cents, while the interim dividend over the period rose to 1\u00a0160 cents.<\/p>\n
Listen\/Read: Astral Foods enjoys better feed and chicken prices<\/p>\n
The group ended the period with a cash balance of R1.15 billion.<\/p>\n
At mid-day, Astral\u2019s share price slumped to R227.72 \u2013 3.7% lower than on Friday.<\/p>\n
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Chief executive Gary Arnold said the group\u2019s interim results were supported by strong demand for poultry, lower feed costs and \u201cgreat execution of Astral\u2019s best cost strategy\u201d.<\/p>\n
Revenue in the poultry division increased 14% to R10.1 billion from R8.8 billion, while revenue in the feed division was more in line with the comparable period at R5.3 billion, even though volumes increased 9.8%.<\/p>\n
This was as a result of lower feed selling prices, reflecting reduced raw material input costs, especially for yellow maize.<\/p>\n
Astral raised concerns about the conflict in the Middle East, which has resulted in a surge in international oil prices and a global shortage of fertiliser.<\/p>\n
Read: SA farms face El Ni\u00f1o drought risk on top of Iran war<\/p>\n
These risks, Astral said, are compounded by the developing El Ni\u00f1o weather phenomenon which could cause drought conditions in the coming summer growing season.<\/p>\n
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Another concern is bird flu, which continues to be a risk to the poultry sector, particularly due to higher infection rates in the Northern Hemisphere during the region\u2019s past winter season.<\/p>\n
\u201cHowever, Astral has made good progress with its vaccination strategy \u2026 [and] approximately 30% of breeding stock will protected against the disease in the winter months,\u201d it noted.<\/p>\n
The group cautioned that these risks will most likely have a bearing on its near-term business prospects.<\/p>\n
Listen\/Read: Field to fork: Farmers\u2019 rising risks and costs<\/p>\n
#Astral #Foods #lifts #interim #dividend #earnings #rocket<\/p>\n","protected":false},"excerpt":{"rendered":"
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