Shares in Astral Foods rose more than 4% in morning trade after it reported full year revenue growth of over a fifth, and it more than doubled its profits. The strong performance came as the group’s main poultry division was able to increase its profitability more than fivefold, benefiting in part from promotional activity among retailers, which helped grow its volumes. The JSE-listed chicken producer, which also nearly doubled its total dividend to shareholders to R13.80 from R7 previously for the year to September, attributed the performance in the main to growth in broiler sales volumes, as well as a recovery in the selling price of poultry.
from Engineering News | Home https://ift.tt/MQGDxsV
