Poultry producer Astral Foods says it expects its earnings for the first half of its financial year to be decimated by ongoing disruptions caused by load shedding, warning shareholders to expect headline earnings to drop by no more than 90%.
“Considering the prevailing market conditions, Astral has reasonable certainty that earnings per share and headline earnings per share for the six months ending 31 March 2023, are expected to decrease by no more than 90%, being 142.0 cents each, compared to the six months ended 31 March 2022 .” “The Poultry division has experienced severe operational disruptions through 1Q2023 due to Eskom load shedding. This has continued and led to abnormal additional costs as well as substantial production cutbacks of at least 12 million broiler placements for the 1H2023.”
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'We are burning our profits' - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.South African business owners say they possibly face closure as a result of constant power cuts. Business owners in Johannesburg say with the increased cost of running generators, they are burning through profits and remaining open is unsustainable. After 30 years of B.E.E and looting what do you expect
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South Africans urged to bury dead within four days amid load shedding, heatwave | BusinessUnrelenting load shedding coupled with a heatwave across parts of South Africa are causing bodies to decay much faster at funeral parlours, an industry body has warned. | News24_Business _Business 🤮🤮🤮 _Business Back in 1999, my grandmother lay in a morgue for a week in Eshowe (it's always Hot there) with no electricity and a dead guy with an axe in his head on top of her. The smell was vicious, it took days to get that out my nose,and I will never unsee it. This is not a new thing. _Business This article actually traumatises me, there is no respect even for the dead, this ineptitude that rules over us has stripped every South African dead or alive of their dignity. I hope Hell is real.
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Over 1,900 business shut down in South Africa – these sectors were hit the hardestBusinesses in South Africa are struggling amid record load shedding and rising costs. MYANC well done! What an achievement - your inaction and putting party before the people has caused devastation in South Africa. But well done! Enjoy the food and partying at your conferences whilst South Africans go hungry. A year of decisive action - decisively destroying SA.
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