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Chicken sales are not healthy, but comfortable - Chris Schutte, Astral Foods

17 May 2021 6:26 PM
Tags:
The Money Show
Bruce Whitfield
Astral Foods
results
Chris Schutte
Astral
company results
Astral Foods results

The Money Show’s Bruce Whitfield interviews Chris Schutte, CEO at Astral Foods.

Astral Foods increased its revenue by 7% (to R7.544 billion) in the six months to 31 March 2021.

Operating profit decreased 37% (to R344.6 million) while earnings per share fell 38% (to R5.92).

The company declared an interim dividend of 300 cents per share.

Astral Foods released its interim results for the six months ended on 31 March 2021. © khunaspix/123rf.com

The Money Show’s Bruce Whitfield interviewed Chris Schutte, CEO at Astral Foods.


RELATED: I still drive a 2000 Camry. I don’t like debt - Chris Schutte (Astral Foods CEO)


We’ve got a long production pipeline… We could not recover our input costs… We have higher stock levels now than a year ago…

Chris Schutte, CEO - Astral Foods

Markets are starting to pick up…

Chris Schutte, CEO - Astral Foods

Chicken sales are not healthy, but comfortable… Our efficiencies are improving… Somewhat of an offset for higher input costs…

Chris Schutte, CEO - Astral Foods

… 26% of chickens in South Africa are imported… There is dumping…

Chris Schutte, CEO - Astral Foods

We’ve secured a court order, placing the central government under pressure to intervene… I don’t expect miracles, but it’s a move in the right direction… We supply 50% of our water ourselves… We’re also forcing Eskom’s hand… We want a fair outcome for the greater area… If they don’t execute, we’ll take them to court again.

Chris Schutte, CEO - Astral Foods

Listen to the interview in the audio below.




17 May 2021 6:26 PM
Tags:
The Money Show
Bruce Whitfield
Astral Foods
results
Chris Schutte
Astral
company results
Astral Foods results

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