Astral earnings ruffled by bird flu, power cuts

JOHANNESBURG - Poultry group Astral Foods earnings plummeted by 148 percent, or over R1-billion.

This is the first time in its 23-year history that the company reported a financial loss.

READ: Blackouts, rising costs sink Astral's profits

CEO Chris Schutte says one contributor was higher feed costs that could not be recovered in the market.

Meanwhile, costs of the bird flu outbreak, power cuts and water shortages amounted to over R2-billion.