Country Bird: Tight market to weaken profit

Escalating feed costs and the rise in chicken imports, which have put pressure on all local poultry producers’ margins, have weakened the profits of Country Bird Holdings. The poultry producer advised its shareholders on Friday that its earnings and headline earnings a share for the six months to December last year would decrease by between 35c and 40c compared with the previous comparative period. The company said it experienced pressure on its net selling value as the negative contributors were worsened by the increased financial constraints on the consumers’ side. Shares were untraded at R276.33. – Londiwe Buthelezi