September 12, 2018 / 9:03 AM / 10 days ago

South Africa's Quantum Foods says FY profits to triple, shares jump

JOHANNESBURG (Reuters) - South Africa’s Quantum Foods said on Wednesday it expects annual profits to triple on steady earnings from its eggs business and compensation for losses incurred from an Avian flu outbreak, sending its shares up seven percent.

The animal feed and poultry company said headline earnings per share would increase by 219 percent to 156.3 cents per share for the year ending June 2018, compared with 49 cents per share in the corresponding period of the previous year.

Headline earnings - South Africa’s most widely watched profit gauge - strip out certain one-off items.

Reporting by Patricia Aruo; Editing by James Macharia

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