Business
Here’s why the Inghams (ASX:ING) share price is on the rise today
The Inghams Group Ltd (ASX: ING) share price is currently up 3.45% today, trading at $3.74 at the time of writing.
The jump follows release of the company’s half-year results for the period ended 26 December 2020 (1H FY21).
Let’s look at the update from the chicken and turkey products provider.
What did Inghams report?
In today’s 1H FY21 earnings release, Inghams reported a statutory net profit after tax (NPAT) of $35.3 million, up 34.7% compared to the prior corresponding period (pcp). The company’s underlying NPAT was $37.5 million, up 28.4% over the pcp.
Cash flow from operations came in at $181.9 million during the half.
Inghams posted a group core poultry volume growth of 4% on the pcp. The company advised that this…
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