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 2024.
highlights
§ 5% increase in total crop processed to 759,700 tonnes (2023 – 721,100 tonnes)
§ 6% increase in total production of crude palm oil to 177,000 tonnes (2023 – 166,200 tonnes)
§ 2% increase in mill-gate CPO price to US$771 per tonne (2023 US$755 per tonne)
§ 24% increase in certified sustainable production to 119,500 tonnes (2023 – 96,500 tonnes)
§ 14% reduction in cost of Group palm product to US$458 per tonne (2023 US$535 per tonne)
§ 78% increase in operating profit to US$41.6 million (2023 US$23.4 million)
§ 81% increase in earnings per share to 44.9p (2023 – 24.8p)
§ 20% increase in interim dividend per share to 15p (2023 – 12.5p)
§ 1% net gearing with net debt US$7.3 million (2023 net cash US$2.5 million)
M.P. Evans chairman, Peter Hadsley-Chaplin, commented: “Following higher production and higher palm-oil prices, the board is delighted to report a significantly improved first-half profit, and a 20% increase in the interim dividend. The second half of the year has, thus far, seen palm-oil prices strengthen further and, accordingly, the Group is well placed for another strong result for 2024 as a whole.”
16 September 2024
Enquiries:
| M.P. Evans Group PLC | Telephone: +44 (0) 1892 516333 |
| Peter Hadsley-Chaplin, chairman | |
| Matthew Coulson, chief executive | |
| Luke Shaw, chief financial officer | |
| Cavendish Capital Markets (Nomad and broker) | Telephone: +44 (0) 20 7220 0500 |
| Matt Goode, George Lawson (Corporate finance) | |
| Tim Redfern, Harriet Ward (ECM) |