Australia’s Inghams Group Refutes Media Speculation Over Sale Talks

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Australia’s Inghams Group has denied media speculation that nan poultry processor has been exploring a waste of nan publically listed business.

Inghams, which operates successful Australia and New Zealand, issued a banal speech announcement coming (23 October) refuting nan claims.

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A study successful The Australian publication suggested nan group had been “discreetly” offering Inghams up for sale.

Today’s filing referenced nan speculation that location are “discussions being held successful narration to a imaginable waste of nan company”.

In response, Inghams said: “The institution confirms that it has not been holding specified discussions aliases different pursuing a waste of nan business. Inghams will support shareholders and nan marketplace informed successful statement pinch its continuous disclosure obligations.”

Inghams’ shares closed 2.4% higher connected nan Australian Securities Exchange coming astatine 2.52 Australian dollars. However, nan shares person mislaid 21% this year, pinch a much notable 27% diminution complete nan past six months.

Inghams’ caller financial results show gross and nett profits dropped successful nan twelvemonth to 28 June.

Issued successful August, nan results show nett profit to shareholders fell 11.5% to A$89.3m ($58.1m). Revenue decreased 3.4% to A$3.15bn.

Meanwhile, EBITDA dropped 15% to A$392.2m and EBIT declined 6.2% to A$209.3m. Earnings per stock were down 11.5% astatine 24.2 cents.

Inghams said nan results reflected nan modulation to a caller proviso statement pinch Woolworths, Australia’s largest retailer, on pinch “challenging” conditions successful nan section market, particularly successful nan last quarter.

“Core” poultry volumes fell 1.4% from a twelvemonth earlier, led by a 2.5% diminution successful Australia linked to nan move complete successful nan Woolworths contract. However, volumes successful New Zealand accrued 5.3%.

The acquisition of Bostock Brothers successful New Zealand, a deal revealed past year on pinch the promotion of Edward Alexander to group CEO effective from June 2025, contributed astir 40 ground points to that growth.

Overall, full group poultry volumes dipped 0.4%.

Inghams’ halfway poultry volumes successful Australia declined 2.5% amid little volumes successful retail, foodservice, wholesale and exports, nan institution said.

“Ongoing cost-of-living pressures” weighed connected nan QSR segment, while vertebrate flu connected non-Ingham farms during nan twelvemonth and nan consequent closure of definite markets, damped export volumes.