Astral bumps up profit forecast as volumes fly

Shares of poultry group Astral Foods brushed off severe market pressure and lifted on Monday morning, after it bumped up its profit forecast, citing improved volumes and the benefits of economies of scale.

The poultry group, valued at R6.3bn on the JSE, said in an update it expects headline earnings per share to rise as much as 140%, about R616m, for its half-year to end-March, having said in February it expected profits to at least double...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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