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 2023.
HIGHLIGHTS
§ 2% increase in total crop processed to 721,100 tonnes (2022 – 705,700 tonnes)
§ 3% increase in total production of crude palm oil to 166,200 tonnes (2022 – 160,800 tonnes)
§ 27% decrease in mill-gate CPO price to US$755 per tonne (2022 US$1,035 per tonne)
§ 7% increase in certified sustainable production to 96,500 tonnes (2022 90,500 tonnes)
§ 26% increase in cost of Group palm product to US$535 per tonne (2022 US$425 per tonne)
§ 62% decrease in operating profit to US$23.4 million (2022 US$61.7 million)
§ 61% decrease in earnings per share to 24.8p (2022 – 63.3p)
§ Maintained interim dividend per share at 12.5p (2022 – 12.5p)
§ Maintained net cash position – 2023 net cash US$2.5 million (2022 – US$13.5 million)
POST PERIOD-END HIGHLIGHTS
§ Increase in cropping levels, with total crop processed 318,800 tonnes in two months to August 2023
§ Agreement signed to acquire 8,350 planted hectares in East Kalimantan, benefiting existing milling operations.
M.P. Evans chairman, Peter Hadsley-Chaplin, commented: “The Group continues to increase output, notably from its own production facilities, following the commissioning of the Musi Rawas mill this February. We are delighted to be reporting further strategic increases in planted hectarage, both at Simpang Kiri earlier this year, and the recently announced agreement to acquire over 8,000 planted hectares in East Kalimantan. These developments, along with increasing cropping levels, put the Group in a strong position to deliver a productive and profitable 2023 and bodes well for its longer-term prosperity.”
11 September 2023
Enquiries:
| M.P. Evans Group PLC | Telephone: 01892 516333 |
| Peter Hadsley-Chaplin – Executive chairman | |
| Matthew Coulson – Chief executiveLuke Shaw – Chief financial officer | |
| Peel Hunt LLP (Nomad and joint broker) | Telephone: 020 7418 8900 |
| Adrian Trimmings, Andrew Clark, Lalit Bose | |
| finnCap (Joint broker) | Telephone: 020 7220 0500 |
| Tim Redfern, Harriet Ward | |
| Hudson Sandler (Communications consultants) | Telephone: 020 7796 4133 |
| Charlie Jack, Charlotte Cobb, Francis Kerrigan |
An analysts’ meeting will be held today at 9:30am at the offices of Hudson Sandler, 25 Charterhouse Square, London EC1M 6AE.