JSE-listed poultry products company Rainbow Chicken expects its earnings per share (EPS) for its financial year ended June 28 to be between 122% and 142% higher year-on-year at between 141.87c and 154.68c, compared with the EPS of 64.04c reported for the prior financial year.
Similarly, it expects headline earnings per share (HEPS) for the financial year to be 118% to 138% higher year-on-year at between 143c and 156.12c, compared with the HEPS of 65.57c in the prior financial year.
The improvements in EPS and HEPS are primarily driven by favourable market conditions, including stronger demand for poultry products and lower commodity prices.
The improvements were also supported by robust agricultural and operational performance and cost efficiencies achieved during the reporting period, the company says.
Rainbow Chicken expects to publish its financial results for the financial year on or about August 28.
