JSE-listed poultry producer Astral Foods has warned investors that its earnings for the six months to 31 March 2023 will be less than pleasing with a slump of as much as 92%. In a trading statement released on Wednesday, Astral said it has “reasonable certainty” that both earnings per share and headline earnings per share will decrease by between 87% and 92% in the half year.
In the prior comparable period, the group reported an EPS of 1 456 cents and Heps of 1 420 cents. The owner of County Fair chicken had flagged a severe slide in earnings in January when it issued a voluntary trading update cautioning about of an expected market deterioration brought on by high input feed costs, crippling load shedding and worsening municipal infrastructure.
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