Lower prices, higher costs to lead to lower earnings for Astral
JSE-listed poultry producer Astral Foods expects its earnings per share (EPS) for the six months ended March 31 to decrease by between 45% and 55% year-on-year following a cybersecurity incident, lower chicken prices and higher input costs.
The company advises in a trading statement issued on May 5 that its interim EPS will be between R4.15 and R5.08, compared with EPS of R9.23 for the six months ended March 31, 2024.
Headline earnings per share (HEPS) will decrease by between 50% and 60% year-on-year to between R3.54 and R4.42, compared with HEPS of R8.84 in the prior comparable period.
Astral will release its interim results on or about May 19.
In a prior trading statement published in March, the company confirmed its flagship division was negatively affected by downtime in processing and deliveries to customers owing to a cybersecurity incident on March 16, which impacted its half-year profit by about R20-million – through revenue losses and added costs in clearing the production backlog.
All business units have since recovered to normal operations, with no confidential information or sensitive data having been compromised as a result of the cyberattack.
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