Chicken and egg producer Quantum Foods reported that headline earnings fell over 70%, after a year of steep input costs, avian flu outbreaks and rising energy costs. On Friday the animal feeds and broiler chicken company said headline earnings per share crashed 78% to 12 cents per share in its 2022 financial year to end-September. Headline earnings fell 73% to R28 million, compared with R102 million in the prior period.
“Insurance for the HPAI outbreak on the Lemoenkloof Farm was limited to the risk associated with direct losses resulting from the culling of infected flocks and did not cover the further effect of lost production and lower sales volumes experienced,” said Quantum Foods. Its eggs business was also hit by reduced selling prices for eggs and reported lower margins on the back of a weak consumer environment. It also had lower demand for layer stock, the company said.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: dailymaverick - 🏆 3. / 84 Read more »
No patrol vehicles for JMPD, says fleet management companyNo patrol vehicles for JMPD, says fleet management company: Afrirent vehicles operating in 12 City of Johannesburg user departments and entities are grounded. Why has the ANC together with its minority friends prioritized votes of no confidence yet say nothing about passing this motion?.
Source: SABreakingNews - 🏆 41. / 51 Read more »
SA company to produce oral cholera vaccine as WHO warns of ‘unprecedented’ outbreaksThe production of raw materials is largely the missing step in the jab-manufacturing value chain across Africa.
Source: SundayTimesZA - 🏆 47. / 51 Read more »
No patrol vehicles for JMPD, says fleet management companyAfrirent vehicles operating in 12 City of Johannesburg user departments and entities are grounded.
Source: SowetanLIVE - 🏆 13. / 63 Read more »