For the same interim period last year‚ Astral reported headline earnings per share of 94c‚ which was 82% lower than the previous interim period's 522c.
The group's trading update implies that its headline earnings per share will be at least 296c. The improvement was attributed to "negative" trading conditions last year not being repeated to the same extent in the current period.
Astral said the rise needed to be seen in the context of relative low reported profits last year.
Vunani Securities analyst Anthony Clark said Astral had had a good period with the benefit of tariff protection, which was implemented in September as well as a natural rise in consumer demand over the festive period.
"But in that period‚ the underlying input price of feedstock - which is half the cost of raising a bird - rose by 50%. Most feed companies buy at least four months forward‚ so in the first half they would not have felt the implications of rising input costs‚" Clark said.
He added that while the maize price had reduced slightly‚ it was still up significantly from last year's levels.
"While the group had some positive factors in the first half‚ it would be affected by the usual fall in demand in the second half‚ as well as higher feed costs and impending brining regulations," Clark said.
When Astral issued its initial trading update a month ago‚ chief executive Chris Schutte said it was a JSE requirement to issue the trading update and that the earnings rise off a low base did not mean Astral was "shooting the lights out".
The group's performance was being affected by imports and record maize prices.
Schutte said he expected conditions to remain challenging in the second half because of the stagnant levels of disposable income‚ high maize prices and poultry imports.
Astral expects to release its results for the six months ending March in May.
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