South Africa’s biggest chicken producer set to quadruple earnings

Astral, South Africa’s largest integrated poultry producer, expects at least a 365% increase in earnings for the first half of its 2026 financial year.

This comes as demand for poultry products has skyrocketed in recent months, and poultry selling prices have recovered after a prolonged period of deflation.

This was revealed in a trading update Astral released on Wednesday, 18 March, which outlined its expected performance for the six months through March 2026.

Astral explained that its results are set to benefit from several positive developments over the past six months, despite a constrained consumer environment where households continue to face pressure on essential costs.

These positive influences included strong demand for poultry products, which resulted in higher sales and enabled Astral to increase broiler production volumes.

On the back of these higher production volumes, Astral’s feed division benefited from an increase in internal and external poultry feed sales.

At the same time, the company reported that poultry selling prices recovered through 2025, following a prolonged period of selling price deflation experienced during 2024.

The company also highlighted the impact of improved poultry margins due to favourable feed input costs, driven by lower soft commodity prices.

Continued good farming performances also benefited the broiler live cost, alongside a well-controlled cost base that, in turn, benefited from the higher production volumes.

“Astral’s balance sheet remains in a healthy position, as a result of the improved financial performance and prudent cash management,” the group said. 

“Astral’s relentless focus on executing its best cost producer strategy remains central to the group’s activities.”

On the back of these positive operational developments, Astral said its financial results for the first half of its 2026 financial year are expected to be strong.

The poultry producer expects its earnings per share (EPS) to increase by at least 365%, while headline earnings per share (HEPS) are projected to grow by at least 435%.

Astral said a further trading statement will be released in April 2026, providing more detailed EPS and HEPS ranges.