Astral selling poultry products at a loss of R2/kg owing to loadshedding
Integrated poultry producer Astral Foods has advised that its poultry division has experienced severe operational disruptions through the first quarter of its 2023 financial year, mainly as a result of loadshedding, leading to abnormal additional costs and substantial production cutbacks.
The company says it has to cut back on at least 12-million broiler placements for the six months ending March 31, and is reasonably certain that its earnings per share (EPS) will decrease by about 90%, or by 142c, compared with the EPS of R14.56 posted for the six months ended March 31, 2022.