Astral Foods Bounces Back from Bird Flu and Power Outages

Astral Foods, South Africa's leading poultry producer, forecasts an annual profit for the year ending Sep. 30, recovering from a rare loss due to severe power cuts and an unprecedented bird flu outbreak. Improved power infrastructure and flu containment have aided the company's resurgence.

Astral Foods, South Africa's premier poultry producer, announced it anticipates recording an annual profit for the first time since posting a historic loss last year. This expected financial upswing follows a tough period marked by severe power outages and the deadliest bird flu outbreak in the country's history.

The avian influenza crisis, which struck last year, led to the loss of approximately 10 million chickens, about one-third of South Africa's poultry population. Alongside this, the country's aging coal-fired power plants experienced frequent failures, exacerbating the economic challenges for businesses like Astral Foods.

Recent improvements in South Africa's power supply and containment of the bird flu towards the end of 2023 have played crucial roles in Astral Foods' recovery. The company is set to disclose its annual results on November 18, as it turns the page on a challenging chapter.

(With inputs from agencies.)