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Rainbow Chicken's Profits Increase

by 5m Editor
23 February 2012, at 8:44am

SOUTH AFRICA - Poultry producer Rainbow Chicken (RBW) has posted a rise in diluted headline earnings per share in the six months ended December 2011 to 68.4 cents, compared with 55 cents for the six months ended September 2010.

BusinessReport reports that the company changed its financial year-end to 30 June so as to align with that of its holding company, Remgro.

Revenue was up by 15.8 per cent to R3.9 billion largely as a consequence of the higher trading quarter included in period under review, from the previous comparative period. Operating profit was up 27 per cent to R301.5 million.

"Rainbow's focus on added value has seen its contribution to total chicken revenue increasing from 47.8 per cent in June 2011 to 53.1 per cent in December 2011, again demonstrating that Rainbow's added value strategy remains integral to delivering an acceptable profit in challenging economic times," it said in a statement.