Astral Foods slaughters its profit
Poultry producer Astral Foods has confirmed in an updated statement that its headline earnings per share for the six months to March were expected to drop by between 75% and 95%‚ from those recorded last year.
The company indicated in January that the trading performance in the first quarter of this year was the worst in its history as a listed company. The period included the 2012 festive season.
Poultry producers have been under pressure from imports and rising production costs.