November 19, 2018 / 5:32 AM / 21 days ago

South Africa's Astral Foods FY profit soars 88 pct

JOHANNESBURG, Nov 19 (Reuters) - South Africa’s Astral Foods Ltd said on Monday full-year profit surged 88 percent, boosted by upbeat volumes and higher selling prices in its poultry business.

Astral, which also produces animal feeds, reported diluted headline earnings per share (HEPS) of 3,687 cents for the full year ended Sept. 30, compared with 1,962 cents a year ago.

This was in line with an increase of between 3,608 cents per share and 3,798 cents per share that the firm flagged to the market.

HEPS strips out certain one-off items and is the main profit measure in South Africa.

The company’s group revenue rose 4.5 percent to 13 billion rand ($926 million).

$1 = 14.0421 rand Reporting by Nomvelo Chalumbira, Editing by Sherry Jacob-Phillips

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