Astral Foods’ share price shot up 6.73% yesterday morning after forecasting sharp increases in earnings and headline earnings per share for the six months to March 31, 2024.
It said in a trading statement yesterday, the company said it expected earnings per share (EPS) to increase between 465% and 475% compared to the six months ended March 31, 2023. An initial trading statement had forecast an increase in EPS of possibly up to 300%.
The latest forecast would result in an EPS of between 913 and 930 cents per share. Headline earnings per share (HEPS) was expected to increase between 435% and 445% when compared with the prior comparable period.
This would result in a HEPS of between 874 cents and 891 cents a share compared with 163 cents a share at the same time last year. The interim results were expected to be released on May 20, 2024.
The share price was trading well up at R150.08 yesterday morning, but the price was 13% below the price it traded at a year before.
BUSINESS REPORT