ThePoultrySite Latest News
Afgri To Unbundle Broiler Business In Months
CAPE TOWN - Afgri, the agricultural services business, was looking to unbundle and separately list Daybreak, its vertically integrated broiler business, within six months, managing director Jeff Wright said yesterday.He cautioned, however, that the company's broilers - chickens raised for meat - were fed mainly on maize, and higher prices for grain and fuel prices increased the input costs of producing a chicken.
These inflationary costs would have to be recovered in the marketplace and eventually feed through to higher retail prices.
Wright said the acquisition of the broiler business vindicated Afgri's decision to re-enter this market.
During strong domestic economic growth, where demand for broilers was growing at an average of 5 percent a year, the company contributed R347 million to group turnover and R41.1 million to profit before interest and tax.
A R410 million expansion project to double production had already been approved and more staff would be hired, he said.
The group declared a 65.6 percent increase in headline earnings of 65.1c for the year to February 2007 and lifted earnings a share by 4.4 percent to 59.9c.
To continue reading this article please click here
Source: Business Report
Latest Poultry Industry News
BIRD FLU: Another Vietnamese Province Hit by Bird Flu
Ag Students Invited to Tell Story of Animal Agriculture- AFBF Provides COOL Compliance Guidelines
Aviagen Strengthens Eastern European Team
Suguna Supports Research into Feed Supplements
Information for Backyard Poultry Flock Owners
Bird Flu Hits New Region of Viet Nam
Addcon Strengthens its Marketing and Sales Team- First Genomics Breeding Program to Benefit Poultry Industry
Agroli Group Constructs 16 Farms
