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General trading update

Published: 2022-02-02 05:05:00 ET
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Astral Foods Limited (JSE:ARL) News - General trading update

ASTRAL FOODS LIMITED
(“Astral” or the “Group”)
(Reg. No. 1978/003194/06)
(Incorporated in the Republic of South Africa)
Share Code: ARL
ISIN Code: ZAE000029757

                  GENERAL TRADING UPDATE

Astral’s earnings per share (“EPS”) and headline earnings
per share (“HEPS”) for the six months ending 31 March 2022
(the “Interim Period”) are expected to be up by at least
100% on the comparative six month period ended 31 March
2021 (the “Comparative Period”), where EPS of 592 cents per
share and HEPS of 597 cents per share were reported. EPS
will be at least 1 184 cents per share and HEPS will be at
least 1 194 per share for the Interim Period.

The Comparative Period’s results were negatively impacted
by Covid-19 related lockdowns impacting the South African
economy, and resulting in constrained consumer spending.
At the time, Astral’s poultry operations could not recover
significant increases in feed costs through the selling
price of poultry products, resulting in a relatively low
base against which the expected results for the Interim
Period are compared.

The performance during the first quarter of the 2022
financial year reflects an improvement in the Group’s
poultry margins. This recovery was achieved mainly through
increased poultry sales volumes and improved net selling
prices. The level of earnings experienced during the first
quarter of 2022, is likely to continue through the second
quarter of Astral’s 2022 financial year, and should deliver
the expected EPS and HEPS profiled above.

The above information has not been reviewed or reported on
by Astral’s external auditor. A further trading statement
will be released once reasonable certainty exists on the
range of the increase in EPS and HEPS.

It is expected that the results for the Interim Period will
be published on SENS on or about 16 May 2022.

Pretoria
2 February 2022
Sponsor:    Nedbank Corporate and Investment Banking, a
division of Nedbank Limited

Date: 02-02-2022 07:05:00
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