M.P. EVANS GROUP PLC
M.P. Evans Group PLC (“M.P. Evans” or “the Group”), a producer of sustainable Indonesian palm oil, announces its unaudited interim results for the six months ended 30 June 2022.
THE QUEEN
We are deeply saddened by the death of Her Majesty, Queen Elizabeth II and we mourn the loss of a remarkable and inspiring monarch, a constant throughout so many of our lives. On behalf of everyone at M.P. Evans, we send our condolences to King Charles III and to all members of the Royal Family.
HIGHLIGHTS
- 4% increase in Group crop to 430,400 tonnes (2021 – 413,200 tonnes)
- – maintained total CPO production at 160,800 tonnes (2021 – 161,400 tonnes)
- 43% increase in mill-gate CPO price to US$1,035 per tonne (2021 US$724 per tonne)
- 74% increase in sustainability premia to US$3.3 million (2021 US$1.9 million)
- 27% increase in cost of Group palm product to US$425 per tonne (2021 US$335 per tonne)
- 49% increase in operating profit to US$61.7 million (2021 US$41.3 million)
- 65% increase in earnings per share to 63.3p (2021 – 38.3p)
- 25% increase in interim dividend per share to 12.5p (2021 – 10p)
- Net cash surplus of US$13.5 million (2021 net debt US$67.7 million)
M.P. Evans executive chairman, Peter Hadsley-Chaplin, commented : “The Group has delivered an excellent set of results for the first half of 2022, supported by the high CPO price environment, but once again demonstrating the benefits of the Group's commitment to long-term responsible management and development of its estates. We are delighted to propose an increase in the interim dividend to 12.5p per share, in line with our progressive dividend policy.”