Interim results
Camellia Plc (AIM:CAM) announces its interim results for the six months ended 30 June 2016.
Malcolm Perkins, Chairman of Camellia Plc, stated:
“Profits for the first six months of the year are substantially higher than the same period last year, once again demonstrating the strength in the diversity of the group.”
“Underlying progress was made by all of our businesses, however a number have faced truly challenging conditions either due to weather or markets and the outlook for the group continues to be mixed. In addition, unpredictable weather makes crop volumes hard to predict and has a consequential effect on prices. In the short term the depreciation in sterling against most of our operating currencies in the agricultural division is likely to have a positive impact on our full year results. In the UK, the lowering of the interest rate will inevitably have a detrimental impact on our banking operations and the continuing uncertainty following the EU referendum vote has triggered a slowdown in our engineering businesses. It is too early, and there remain too many uncertainties, to make any prediction for the full year.”…