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Crops of oil palm FFBs rose 27% to 249,300 tonnes from 2010's levels. The group said it remains on track for FFB production of 300,000 tonnes in 2012 and 500,000 tonnes in 2015. On the cattle side, "a significant improvement in profits was achieved by the Australian associated company, NAPCo, after a good season," revealed Peter Hadsley-Chaplin, Chairman of MP Evans.
Strong palm oil prices and increasing crops of oil palm fresh fruit bunches (FFBs) on both the new projects and the established estates were the prime reason for the improved results, the group said. The palm oil price averaged $1,123 per tonne on a cost, insurance and freight basis, up from $905 per tonne in 2010, but prices were on a downward trend for most of 2011; they have since reversed course in 2012, with the prevailing price currently in the region of $1,175 per tonne.
MP Evans, the producer of Indonesian palm oil and Australian beef cattle, brought new plantations on stream just in time last year to take advantage of historically high palm oil prices. Profit before tax in 2011 rose 62% to $39.7m from $24.45m in 2010. Earnings per share increased to 66.39 cents from 41.17 cents the year before.
Panmure Gordon have just increased their target price from 500p to580p
I believe the share price is held back by shareholders concerns about the on going weather problems "in Australia" Rain is very benificial where the properties are situated
good read / profile from Midas article: http://www.dailymail.co.uk/money/markets/article-2041438/MIDAS-Maturing-trees-double-MP-Evans-s-palm-oil-yield.html
A complex spread of plantations in the Far East and Australian cattle ranches, MP Evans is trying to prune itself into a less unruly state. By 2015, it is hoped to have a more streamlined business 70% reliant on Indonesian palm oil and 30% on Australian beef. A quick sum-of-all-parts calculation, putting a conservative valuation on the plantations and on the parts to be sold – reaches about 675p a share. This is not to say the shares are worth that – some sort of discount is to be expected, but the shares sell on around ten times earnings. Worth a look long-term for those growth prospects, if the restructuring raises Evans’ profile in the City, says the Times.
Peel Hunt initiates buy on MP Evans Group, target price 500p
These shares have had a good run, but I suspect very still undervalued on a three year view. AEP would appear to be very undervalued on P/E of only 11 and certainly when compared with the eastern giants
M.P. Evans Group - Final Results M.P. EVANS GROUP PLC M.P. Evans Group PLC ("MP Evans" or "the Group"), a producer of Indonesian palm oil and Australian beef cattle, announces unaudited preliminary results for the year ended 31 December 2008. Highlights Financial * Record profit for the year US$53,596,000 (2007 US$46,630,000) *... Visit Message » From: April 27, 2009 08:01
Results out today, heard could be a good investment IMO. Yes bought in on Friday. Good start, lets see what happens today :-)
Why do you say this my friend? Have you got shares in them?
Looks like this share will be going up, up and up on Monday :-)
thanks for posting last 2 articles - interesting and confirms my thoughts about Palm Oil for this year.
again today! See link : http://www.bloomberg.com/apps/news?pid=20602013&sid=aaRaT3QYbnwA&refer=commodity_futures Stories about Palm Oil been in The Times and FT on at least 3 days this last week - hope some of you out there are following the story as analysts say these rises will be with us for at least this next quarter & highly likely well into the year. Robbie Burns (Naked Trader fame) into Palm Oil & has tipped Palm Oil and Oil stocks as the place to be.......... I think he is very good with his picks, but I always do my own research as we all should of course! He's also a lucky blighter! Lol! NBPO has come down a little today after a bit of profit taking these last coupla days but institutions have bought heavlily into that stock. Also AEP bought more Indonesian Palm Oil plantation yesterday - watch this space! Good luck everyone on the Palm Oil ride :0)
And asked for nbpo to be listed on here. Got out an hour or so though!
If you are looking at Palm Oil stocks at the mo, see also see New Brit Palm Oil (ticker NBPO). Posted this message here as no chatroom set up for NBPO as yet! NBPO has risen substantially since it's float though so as always, please do your own research. Check out current prices and forecast/shortage info re' Palm Oil (Bloomberg a good source of info) and see NBPO own wesbite http://www.nbpol.com.pg/ Hope this helps anyone after Palm Oil stocks! :0)
Get in while you can!