Poultry producer Astral Foods says half-year earnings fell by up to 55% because of higher costs and lower selling prices.
Poultry producers have been grappling with cheap imports, rising costs and weak demand amid the stagnation of SA’s economy. Independent analyst Anthony Clark said last week that he was “not positive yet on Astral Foods” partly because of a delay in the adjudication of tariffs. “I understand court action by a rival meat-importing body has stymied progress for the time being.”
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