Five-fold increase in H1 earnings for Astral Foods

The jump in earnings caused the poultry producing firm's shares to increase by six percent.

South African poultry producer Astral Foods this week flagged a more than five-fold increase in its half-year earnings, which boosted the firm’s shares by six percent.

The company has attributed the jump to continued favourable trading conditions, as well as good farming performances to end March.

Astral said in a statement that it expects headline earnings per share (HEPS) for the six-months ending March to increase to between 1 958 cents and 1 994 cents per share, compared to 356 cents the previous year.

Pictured: CEO, Chris Schutte