Quantum Foods (QFH) FY23 – Results Snapshot

Diluted headline loss per share from continuing operations of -17.4 cps (FY22: 14.1 cps), which includes a R155.3m write-off of biological assets due to the HPAI outbreaks.
Revenue growth of +15.5% y-y (FY22: +11.5% y-y).
GPM down to 17.0% (FY22: 18.4%).
Operating margin down to -0.5% (FY22: 0.5%).
Expense-to-sales down to 16.8% (FY22: 18.1%).
No dividend (FY22: 8.0 cps).
The egg business entered an upward pricing cycle but volumes were down -14.4% y-y due to the outbreak of HPAI.
Total volumes in the Animal Feeds segment are up 0.9%, while external volumes increased 6.7%.
The Other Africa business performed well with revenue up +12.3% y-y. Margins were impacted by higher costs as the Kwacha/Dollar exchange rate impacted salaries which are pegged to the Dollar.