The improved performance of South Africa’s poultry industry was on show this month as two of the largest producers gave an insight into upcoming results announcements.
Astral Foods, the country’s leading poultry producer, and Quantum Foods, the largest egg producer which also has broiler operations, both issued trading updates outlining expectations for their year-end results announcements next month.
Earlier this year, Rainbow, the third poultry producer listed on the Johannesburg Stock Exchange, reported substantial improvements for the year to June. Rainbow’s profits increased by 156% compared to the 2023 year, when it recorded a loss of just under R300 million. The company said its turnaround was well advanced and yielding positive results.
Quantum released an upbeat trading statement, saying it expected earnings per share for the year to end September to be between 62% and 82% higher than the previous year, when operations were set back by outbreaks of bird flu.
It said its layer flock was being rebuilt after mass cullings last year, egg production had improved significantly and egg prices remained relatively high. The operational and financial performance of its broiler farming business was “excellent”, Quantum reported.
Astral, which reported a drop in profits in the six months to March this year, said in a voluntary trading update that there had been a strong recovery in the second half of its financial year. Improved sales and reduced costs should result in earnings per share increasing by between 7% and 17%. Astral said.
