JSE-listed poultry and animal-feed group Quantum Foods delivered a stunning financial rebound for the year ended 30 September 2025, posting a 59.6 per cent surge in operating profit to R369 million and rewarding shareholders with a final gross cash dividend of 34 cents per ordinary share – the first payout since the avian flu crisis gutted earnings two years ago.
Revenue climbed 12.9 per cent to R7.147 billion, but the real story lay beneath the top line: headline earnings per share rocketed 67.1 per cent to 134.4 cents from 80.4 cents, while basic earnings per share hit 137.8 cents. Shares leapt as much as 15 per cent in early Friday trade before settling around R9, valuing the group at roughly R1.8 billion.
The turnaround was powered by a dramatic recovery in the Farming division, which flipped from an R11 million adjusted operating loss in 2024 to a R127 million profit in 2025. According to Fin24, this reversal ranks among the strongest in the sector’s history, achieved through higher day-old chick placements, tighter biosecurity protocols and a sharp decline in Highly Pathogenic Avian Influenza (HPAI) outbreaks that had previously forced the culling of millions of birds and triggered nationwide egg shortages.
The Animal Feeds business, Quantum’s traditional cash cow, contributed a steady 9.6 per cent rise in adjusted operating profit to R103 million, buoyed by an 8.7 per cent jump in production volumes and disciplined margin management despite volatile maize and soya prices. The Eggs division saw revenue soar 47 per cent on a 79.5 per cent increase in sales volumes as the national laying flock rebuilt, although lower average selling prices – down 17.1 per cent in the second half as supply normalised – trimmed the segment’s adjusted operating profit by 20.8 per cent to R111 million.
Operations across Uganda, Zambia and Mozambique grew revenue 16.5 per cent to R545 million, with Uganda and Zambia posting improved profitability. Mozambique remained under pressure from civil unrest and looting incidents that disrupted distribution channels.
Biological asset write-offs plummeted from R37 million to just R8 million, while the near-elimination of load-shedding in 2025 removed another significant cost burden that had previously forced reliance on expensive diesel generators at farms and feed mills.
Management highlighted that the absence of severe HPAI outbreaks in the reporting period was pivotal, yet warned that the virus remains endemic in wild bird populations and poses an ongoing threat. Capital expenditure will now shift towards completing major layer-farm expansions and feed-mill upgrades aimed at locking in efficiency gains and supporting further growth across high-potential African markets.
For a sector that saw Astral Foods and RCL Foods also report robust recoveries, Quantum’s results stand out for the speed and scale of the rebound. Having traded as low as R4 earlier in the cycle when investors feared permanent impairment of its breeder flocks, the group has not only restored capacity but positioned itself as one of the best-performing poultry stocks on the JSE in 2025. With a reinstated dividend, cleaner balance sheet and renewed operational momentum, Quantum Foods has emphatically turned the page on the avian flu nightmare.