News 353 views last update:6 Aug 2012

South African Country Bird reports profit

Johannesburg Stock Exchange-listed poultry and stock feed group Country Bird Holdings (CBH) has reported a 4% increase in profit after tax to R112m (€11.5m, $16.3m) for the year ended June 30.

CBH, a wholly owned subsidiary of Synapp International, also reported an increase in headline earnings per share of 59.25c compared with 57.13c in the previous year.

The group revenue rose 35% to R1.3bn (€133.3m, $189m), which was assisted by sustained strong demand for poultry products, while gross profit rose to R221m (€22.7m, $32.1m) for the year from R218m(€22.4m, $31.7m) in the previous year.

Third largest
CBH operates in SA, Botswana and Zambia through its three subsidiaries. These consist of Supreme, which is the third-largest poultry producer in SA with a 10% market share.

In the feed business CBH operates under the Nutrifeeds brand, which has feedmills in Viljoenskroon and Blomfontein. The group also owns 100% of Ross Zambia and Ross Botswana, which has more than 60% market share and is the only poultry-breeding operation in that country.

CBH is planning to spend further capital to complete the restructuring and capacity expansion of the feed milling operations.

Editor AllAboutFeed

Or register to be able to comment.