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Astral likely to gain from poultry prices

by 5m Editor
21 August 2006, at 11:31am

SOUTH AFRICA - Astral Foods, the country's second-largest chicken producer, said annual profit would increase by 35 percent as poultry prices gained.

Profit for the year to September was expected to rise between 25 percent and 35 percent, Astral said on Friday. It reported profit of R394.9 million in fiscal 2005.

The company, which slaughters 3.3 million chickens a week, posted a 54 percent jump in first-half profit in May as prices rose 7 percent and sales increased 12 percent.

Source: Business Report

5m Editor