Astral Foods reports a significant R1.6 Billion loss.
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GUEST – Gary Arnold, Chief Operating Officer at Astral Foods.
South Africa's biggest poultry producer Astral Foods ARLJ.J swung to a full-year loss on Monday, as an ongoing electricity crisis and the country's worst bird flu outbreak cost the company R1.6 billion rand.
Astral reported a R621 million-rand operating loss in the full-year ended Sept. 30, compared to a 1.4 billion rand profit last year. Its flagship poultry division's R1.38 billion-rand loss was partly offset by a R759 million-rand profit from its feed division, which saw 12% revenue growth.
South Africa's biggest poultry producer Astral Foods ARLJ.J swung to a full-year loss on Monday, as an ongoing electricity crisis and the country's worst bird flu outbreak cost the company R1.6 billion rand.
Astral reported a R621 million-rand operating loss in the full-year ended Sept. 30, compared to a 1.4 billion rand profit last year. Its flagship poultry division's R1.38 billion-rand loss was partly offset by a R759 million-rand profit from its feed division, which saw 12% revenue growth.
