Our live Investing Matters Podcast Special which took place at the Master Investor Show discussing 'How undervalued is the UK stock market?', has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAnglo-Eastern Plantations Regulatory News (AEP)

Share Price Information for Anglo-Eastern Plantations (AEP)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 696.00
Bid: 690.00
Ask: 694.00
Change: 2.00 (0.29%)
Spread: 4.00 (0.58%)
Open: 696.00
High: 696.00
Low: 696.00
Prev. Close: 694.00
AEP Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Trading Statement

15 Nov 2016 09:00

RNS Number : 1962P
Anglo-Eastern Plantations PLC
15 November 2016
 

15 November 2016

Anglo-Eastern Plantations Plc

("AEP" or the "Group")

 

Trading Statement

 

Anglo-Eastern Plantations Plc and its subsidiaries, which owns, operates and develops plantations in Indonesia and Malaysia, amounting to some 128,600 hectares producing mainly palm oil and some rubber of which approximately 65,500 hectares are planted, today announces a trading update in respect of the period since 30 June 2016.

 

 

Operational and financial performance

 

For the first nine months ended 30 September 2016, our own production of fresh fruit bunches ("FFB") was 628,700mt, a decrease of 5% compared to the same period in 2015 (9M15: 660,500mt). FFB bought-in was 509,250mt, which represents a decrease of 4% in comparison with the same period in 2015 (9M15: 532,100mt). Total Crude Palm Oil ("CPO") produced was 235,350mt, 2% lower than the corresponding period in 2015 (9M15: 239,700mt) due to both lower FFB production and external FFB purchase.

 

CPO CIF Rotterdam price averaged $688/mt for the first nine months to 30 September 2016. This represents an increase of 9% from the average price of $630/mt recorded in the comparative period of 2015 and is above the price of $570/mt at the start of 2016.

 

The Group's balance sheet remains strong with the Company continuing to generate positive cash flow. The Company's Long Term Development Loans totalled $35.5m as at 30 September 2016 (3Q15: $34.75m). The Group had net cash of $72.7m as at 30 September 2016 (3Q15: $68.3m).

 

 

Development

 

The Group's new planting for nine months ended 30 September 2016 totalled 1,003 hectares, of which replanting made up 309 hectares. As reported previously the Group is facing difficulty in concluding land compensation settlement with villagers in Sumatera due to unreasonably high land prices. These negotiations are continuing and the Management is confident that some of these negotiations will be concluded successfully.

 

The construction of the two biogas plants for the mills in Bengkulu and Kalimantan are in the final stages of construction. Membranes have been installed to trap the biogas emitted from the palm oil mill effluents ("POME"). Various equipment are being progressively installed and should be ready by the end of the year. The biogas plants when completed are expected to generate a combined 3 Megawatt of electrical power. A surplus of 15.6 million kilowatt hour of electricity is projected to be generated which the Group intends to sell to the State Electricity Company. The mills will further reduce their reliance on fossil fuels and at the same time reduce the Group's carbon foot print.

 

 

 

 

 

 

 

 

 

Outlook

 

CPO closed at the price of $770/mt on 11 November 2016, representing a 35% increase from $570/mt from the start of the year. The El Nino weather phenomenon which resulted in severe drought last year has reduced the FFB production in both Indonesia and Malaysia leading to a gradual increase in price.

 

The CPO price outlook for the remainder of the year should remain stable especially with the coming monsoon which is expected to disrupt FFB production.

 

 

 

 

 

For further enquiry, contact:

 

Anglo-Eastern Plantations Plc

Dato' John Lim Ewe Chuan

 +44 (0)20 7216 4621

Panmure Gordon

Andrew Godber

+44 (0)20 7886 2500

 

Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTGIBDBBDBBGLU
Date   Source Headline
6th Mar 20247:00 amRNSTransaction in Own Shares
4th Mar 20247:00 amRNSTransaction in Own Shares
29th Feb 20247:00 amRNSTransaction in Own Shares
20th Feb 20247:00 amRNSTransaction in Own Shares
16th Feb 20247:00 amRNSTransaction in Own Shares
14th Feb 20247:00 amRNSTransaction in Own Shares
2nd Feb 20243:46 pmRNSFirst Commercial BioCNG Plant Completed
31st Jan 20247:00 amRNSTransaction in Own Shares
30th Jan 20247:00 amRNSTransaction in Own Shares
11th Jan 20247:00 amRNSTransaction in Own Shares
9th Jan 20247:00 amRNSTransaction in Own Shares
29th Dec 20239:05 amRNSTransaction in Own Shares
28th Dec 20237:00 amRNSTransaction in Own Shares
21st Dec 202312:31 pmRNSUpdate Statement on 2023 Annual GM Voting Results
21st Dec 20237:00 amRNSTransaction in Own Shares
18th Dec 20237:00 amRNSTransaction in Own Shares
15th Dec 20237:00 amRNSTransaction in Own Shares
14th Dec 20237:00 amRNSTransaction in Own Shares
13th Dec 20239:09 amRNSTransaction in Own Shares
8th Dec 20237:00 amRNSTransaction in Own Shares
4th Dec 20237:00 amRNSTransaction in Own Shares
30th Nov 20239:29 amRNSConsolidation of Holdings-Indonesian Subsidiaries
29th Nov 20237:00 amRNSTransaction in Own Shares
24th Nov 20237:00 amRNSTransaction in Own Shares
16th Nov 20237:00 amRNSTransaction in Own Shares
14th Nov 20237:00 amRNSTransaction in Own Shares
13th Nov 20237:00 amRNSTransaction in Own Shares
9th Nov 20237:00 amRNSTransaction in Own Shares
7th Nov 20237:00 amRNSTransaction in Own Shares
6th Nov 20237:00 amRNSTrading Statement
2nd Nov 20237:00 amRNSTransaction in Own Shares
31st Oct 20237:00 amRNSTransaction in Own Shares
25th Oct 20237:00 amRNSTransaction in Own Shares
20th Oct 20238:59 amRNSTransaction in Own Shares
19th Oct 20237:00 amRNSTransaction in Own Shares
12th Oct 20237:00 amRNSTransaction in Own Shares
10th Oct 20237:00 amRNSTransaction in Own Shares
6th Oct 20237:00 amRNSTransaction in Own Shares
5th Oct 20237:00 amRNSTransaction in Own Shares
28th Sep 20237:00 amRNSTransaction in Own Shares
26th Sep 20237:00 amRNSTransaction in Own Shares
25th Sep 20237:00 amRNSTransaction in Own Shares
19th Sep 202310:00 amRNSDividend Declaration
19th Sep 20237:00 amRNSTransaction in Own Shares
15th Sep 20238:59 amRNSTransaction in Own Shares
14th Sep 20237:00 amRNSTransaction in Own Shares
13th Sep 20237:00 amRNSTransaction in Own Shares
12th Sep 20237:00 amRNSTransaction in Own Shares
8th Sep 20237:00 amRNSTransaction in Own Shares
5th Sep 20237:00 amRNSTransaction in Own Shares

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.