Suspected Avian flu alert at egg farm
There’s a suspected outbreak of Avian influenza at an egg farm facility in Victoria.
One of Australia’s biggest egg producers, Farm Pride Foods, whose hens lay more than 7 million eggs per week, has revealed there has been a suspected outbreak of Avian influenza at its Lethbridge farm facility in Victoria.
The ASX-listed Farm Pride, whose shares have collapsed by more than 70 per cent in value in the past two years as it is beset by a range of operational and financial problems, called for a trading halt in its shares Thursday morning.
“The trading halt is necessary to assist the company in managing its continuous disclosure obligations as the company expects to make an announcement to the market in relation to a suspected Avian influenza outbreak at its Lethbridge farm facility,’’ the company said in an ASX statement.
The company is asking for a trading halt until Monday.
Farm Pride reported first-half sales of $45.68 million for 2020, as its net loss blew out to $754,000.
Its results this year were hurt by the east coast drought and higher feed prices with those conditions expected to continue, the company recently warned. The company’s finances have also struggled under the weight of investing in new cage free infrastructure to meet the demands of customers.
Its shares last traded at 30c each, giving it a market capitalisation of around $16.6m.
Meeting to create $30bn ASX powerhouse kicks off
Analysts are expecting a flurry of trading activity when the $30bn, post-merger Sigma Healthcare returns to trade next month, after Wednesday’s meetings to wave through the massive deal.
Recruitment assistance business ready to get busy in the US
Two childhood friends who reached out to each other during the worst of the Covid-19 pandemic are revolutionising the recruitment industry and their next goal is the giant US market.