Inghams Group provided result for half year ended on 24 December 2022

On 17 February 2023, Inghams Group Limited (ASX: ING) presented its consolidated interim financial report for the half year ended on 24 December 2022 (1HFY23):

• During 1HFY23, the Group's Net Revenue increased by 8.9% or AU$123.1 million compared to the previous year's 1HFY22. The growth in poultry revenue was 8.6%, which was attributed to the 8.5% growth in poultry net selling prices.
• Despite a 3.5% decrease in volumes, external feed revenue also increased by AU$17.1 million or 25.1%, driven by a rise in net selling prices of 29.6%.
• Group Expenses, including Cost of Sales, Distribution, Administration, and Selling, increased by AU$145.9 million or 11.2% compared to 1HFY22.
• Cost of Sales and Distribution costs increased by AU$132.8 million, mainly due to significant inflation headwinds and supply chain disruptions.
• The company declared and paid a fully franked final dividend of 0.5 cents per share, amounting to AU$1.9 million.

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