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Poultry group Quantum's profits crash, and it sees another tough year ahead for the industry | Business

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Quantum Food's profits slumped in its year to end-September despite double-digit revenue growth, with its woes including avian influenza, an ugly strike, and load shedding. | News24_Business

Poultry group Quantum Foods has opted to hold on to its final dividend after its profits crashed by three quarters, with SA's largest egg producer expecting another tough year in 2023, having recently taken severe hits including from avian influenza, an ugly and costly labour dispute, as well as load shedding.

While difficult to accurately predict, the industry looks set to struggle to pass on costs to consumers over the next few months, CEO Hennie Lourens said on Friday. Signs of severe strain include the phone calls Quantum has received from farmers looking to sell their businesses, he said.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

 

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Quantum Foods earnings tumble almost 80% as input costs, avian flu biteChicken and egg producer QuantumFoods reported that headline earnings fell over 70%, after a year of steep input costs, avian flu outbreaks and rising energy costs. Moneyweb QuantumFoodsEarnings NtandoThukwana
Källa: Moneyweb - 🏆 5. / 77 Läs mer »