South African Country Bird reports profit

28-09-2007 | |

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 ending 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.
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.
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