Quantum earnings to soar

Quantum Foods expects to report headline earnings per share for the year to September of at least 49.4 cents; an increase of 343 percent.

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Cape Town - Quantum Foods said on Wednesday that it expects to report headline earnings per share for the year to the end of September of at least 49.4 cents, representing an increase of 343 percent on the 11.2 cents per share reported the year before.

A statement from the diversified animal feeds and poultry business noted the impact of the proposed sale of the Tydstroom Abattoir in Hartebeespoort in Gauteng to Sovereign Food and Crown Chickens had not been taken into account as that deal had not yet received competition board approval.

The company said lower maize and soya meal costs due to an improved international stock situation had benefited both broiler and egg production costs. The company said increases in selling prices of eggs and improved volumes of layer livestock sold had made a positive contribution.

Quantum Foods added that the broiler business had returned to profitability due to the re-engineering of the Western Cape business model, as well as improved volumes and cost efficiencies at the company’s Hartebeespoort abattoir.

AFRICAN NEWS AGENCY