5 Jun 2015 09:00
For immediate release 5 June 2015
Asian Citrus Holdings Limited
("Asian Citrus" together with its subsidiaries, the "Group")
Summer Orange Harvest
Asian Citrus announces that the actual summer orange crop yield of the Group's Hepu Plantation for the current period was approximately 19,132 tonnes (Financial Year ended 30 June 2014: 49,540 tonnes). This was broadly in line with the tonnage indication of 20,100 tonnes given in the Summer Orange Crop statement of 20 March 2015. As previously announced, the decrease in production yield from Hepu Plantation was materially impacted by damage sustained from Typhoon Rammasun and Typhoon Seagull in July and September 2014 respectively.
Reflecting this and the factors highlighted in previous announcements, the total annual production yield of winter and summer oranges for the Group decreased from approximately 197,467 tonnes to approximately 130,125 tonnes in the current year, which represents a decrease of approximately 34.1%.
The Board believes that the reduction in the production yield of orange crop, citrus canker and Huanglongbing disease as previously announced, will continue to adversely influence the performance of the Group's agricultural produce operations.
The full year results of the Group for the year ending 30 June 2015 are expected to be published in September 2015.
For further enquiries please contact:
Asian Citrus | +852 2559 0323 |
Mark Ng, Executive Director and Chief Financial Officer | |
Cantor Fitzgerald Europe (NOMAD and Broker) Rick Thompson, David Foreman (Corporate Finance) Richard Redmayne (Corporate Broking) | +44 (0) 20 7894 7000 |
Weber Shandwick Financial Nick Oborne, Stephanie Badjonat, Tom Jenkins | +44 (0) 20 7067 0700 |