Company Announcements

Crop and production update

Source: RNS
RNS Number : 5666F
M. P. Evans Group PLC
19 July 2021
 

M. P. EVANS GROUP PLC

("THE GROUP")
2021 H1 crop and production

The Group is pleased to announce the following crop and production information for the six months ended 30 June 2021.

 


H1 2021

Increase

H1 2020


Tonnes

%

Tonnes

Crop of fresh fruit bunches ("ffb")




Own crop

413,200

24

334,100

Scheme smallholder crop

120,900

43

84,600

Independent smallholder crop

168,200

28

130,900


702,300

28

549,600





Production*




Crude palm oil ("CPO")

161,400

29

124,800

Palm kernels ("PK")

34,700

25

27,800

*- figures include production from the Group's crop sold to third-party mills.

Crop and production continued to increase in the first half of 2021. Particularly notable were the doubling of crop at Musi Rawas as the palms mature at that developing estate, and a 72% increase at Bangka as crops recovered from a period of low rainfall that had affected production in 2020. All estates and mills have operated without interruption during the period, with appropriate Covid-19 safety measures in place.

In the period to the end of June 2021, the Group realised an average price at mill gate of US$724 per tonne compared with US$541 in the first half of 2020, an increase of 34%. Prices for palm kernels averaged US$491 per tonne (mill gate), higher than the US$298 per tonne in 2020.

Considering the reported crop growth, combined with the increase in CPO prices, it remains the board's intention to recommend a total dividend of 30 pence per share in respect of 2021, as indicated in the 2020 annual report.

Enquiries:

M.P. Evans Group PLC

Telephone: +44 (0) 1892 516333

Peter Hadsley-Chaplin, executive chairman
Matthew Coulson, finance director

 

Peel Hunt LLP

Telephone: +44 (0) 20 7418 8900

Dan Webster
Andrew Clark

 

finnCap

Telephone: +44 (0) 20 7220 0500

Tim Redfern
Chris Raggett

 

Hudson Sandler

Telephone: +44 (0) 20 7796 4133

Charlie Jack
Elfie Kent

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DRLFLFESDFIRLIL
image