Quantum Foods declares a final dividend of 10c per share

Quantum Foods has felt the benefits of improved trading conditions in the South African poultry sector, posting a strong rise in headline earnings and moving into profit at the operating level.

In the year to end September 2015, Quantum reported headline earnings per share of 54c, up from the 11c reported a year ago.

Maize and soya meal costs were lower than in 2014, despite substantial increases in the second half of the year due to a much smaller than expected maize crop and the further weakening of the rand, the company said on Thursday.

"Egg prices improved due to a balanced supply and demand in the market, and broiler prices increased despite the continued increase in imports."

The company recorded an operating profit of R164m compared with an operating loss of R21m in September 2014.

Revenue, however, fell 2.6% to R3.5bn compared with a year ago.

Quantum declared a final dividend of 10c per share.