Camellia PLC - Maidstone, Kent-headquartered agriculture and engineering services firm - Pretax loss in 2021 narrows to GBP7.1 million from GBP7.8 million loss in 2020. Attributes this to "significant changes" in its Agriculture portfolio. Revenue drops 5.1% to GBP277.2 million from GBP291.2 million. Blames this on poor weather conditions in India, lower production in Kenya and lower Avocado revenue on lower volumes and prices. Adds that 2020 revenue included a contribution from Horizon Farm, of which it disposed that year.
Proposes final dividend of 102 pence per share, taking its total dividend to 146p. This reflects a 1.4% uplift from 144p year-on-year. Expects revenue and profit for 2022 to be ahead of 2021 but cautions that it does not believe normal trading conditions will emerge until 2023 at the earliest.
Current stock price: 6,000.00 pence
12-month change: down 16%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Camellia (CAM)