Poultry producer is an essential service, but does not expect to avoid economic fallout of pandemic
Astral Foods has opted to hold on to its interim dividend as it braces for the economic fallout from the Covid-19 pandemic.
“In the medium to long term the poultry industry will not escape the impact of an even weaker economy brought about by the lockdown, and the subsequent impact this has had on the ability of South Africans to earn a living wage,” the group said. The group said higher sales in its broiler operation were partially offset by higher feed costs, as well as other hard-to-control costs.
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