Quantum provided trading update ahead of H1 results

Quantum provided trading update ahead of H1 results

South African poultry group Quantum Foods has said it expects headline earnings per share to more than double year-on-year for the first six months of the year. 

In a statement today, the group advised shareholders with a "reasonable degree of certainty" that headline earnings per share of the company for the six month period ended 31 March are expected to be a minimum of ZAR25.1 cents (US$0.02) per share - a minimum increase of 170% from the previous corresponding period.

Earnings per share are expected to be a minimum of 25.4 cents per share - a minimum increase of 544% from the year before.

"Lower maize and soya meal costs due to an improved international stock situation, has benefited both broiler and egg production costs and contributed to the improved results for the current financial period," Quantum said. "A further contribution to the improved results for the current financial period is that egg selling prices have improved slightly due to a balanced supply and demand in the market."

Quantum was spun off from South African food group Pioneer Foods in October.