South African poultry processor Astral Foods has forecast a slump in first-half earnings, with the company continuing to suffer amid high commodity costs and pressure from imports.
South African poultry group Astral Foods has booked a slump in annual profits, with higher feed costs having a "major negative impact" on results.
South African poultry group Astral Foods has warned that both headline earnings and earnings per share for the 12 months ending 30 September will be down between 50% and 70% compared to the previous year.
South African poultry group Astral Foods said today (20 July) that it plans to introduce "further and more severe cutbacks in the poultry production chain" following tougher than expected trading conditions.
Astral Foods, the South African poultry group, has reported lower first-half earnings.
Astral Foods, the South African poultry group, has trimmed its forecast for half-year headline earnings per share, citing increased costs and lower demand.
This week, McCormick & Co. announced the appointment of Lawrence Kurzius to the position of CEO. Post Holdings was reportedly eyeing the packaged food arm of Bob Evans Farms. Elsewhere, the CEO and chairman of The Greenery quit amid clashes with the supervisory board. And we published the second part of our interview with Ritter chairman Andreas Ronken. Here is the week in quotes
South Africa's Astral Foods has denied it has made an offer to acquire a stake in fellow poultry processor Sovereign Food Investments.
South African poultry processor Astral Foods has posted higher sales and earnings, helped by new business, improved selling prices and lower feed costs.
South African poultry producer Astral Foods is bullish about its shareholders' returns this year, predicting headline earnings will soar by "at least" 120% compared to the previous year.
South Africa is to re-open its market to US poultry imports for the first time in 15 years after a deal between the countries' governments.
South Africa's Tiger Brands grabbed the headlines this week with news of the over-stating of sales at its Kenyan arm inflating local profits last year. Elsewhere, Ireland's Total Produce lifted its earnings forecast and said it was on the look-out for more M&A. UK meat group Cranswick reported mixed annual results.
TreeHouse Foods first quarter sales surged – but the US food group cut its forecast for annual earnings. Inventure Foods revealed the devastating impact of the listeria recall. Meanwhile, Petra Foods commented on the slowdown in the Indonesian economy and weaker consumer sentiment. Here is just-food's weekly results round-up.
South African poultry-to-feed group Astral Foods has booked a jump in half-year earnings thanks to improved fortunes at its poultry unit.
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