Astral Foods trumps difficult trading period with sterling FY17 results

JSE-listed Astral Foods on Monday attributed the 96.8% increase in headline earnings a share to R18.99 for the year ended September 30 to the recovery in poultry profits during the second half of the financial year. “Stable prices for poultry products during the winter months, together with materially lower feed raw material costs in the second half of the financial year, were the main drivers for the profits for the year, with a contribution of R630-million to the group’s profit,” the company stated.