The share price of poultry producer Inghams Group Ltd (ASX: ING) has fallen slightly today after the company released a presentation for its annual general meeting. The shares are trading 4 cents, or 1.1% lower, at $3.65.
Inghams is one of Australia's biggest poultry producers, controlling roughly 40% of the Australian chicken market at the time of its initial public offering (IPO) in 2016. It's likely you're familiar with many of its products, including roast chickens, chicken nuggets and schnitzels, as well as turkey drumsticks. The company also controlled roughly 34% of the New Zealand chicken market.
Today, the company confirmed that its outlook remains unchanged since late August when it announced its full-year earnings results. Inghams said its strategy implementation remains on track and that its improved performance in New Zealand during the second half of financial year 2017 (FY17) has continued into FY18. However, Inghams also mentioned that feed prices have increased in recent months which could impact on earnings.
Despite today's small decline, the Inghams share price has still managed to lift almost 15% so far in 2017. They recently traded as high as $3.93, which marked a new high for the company's shares.
