Last checked at 26 Oct 2011 07:00
Camellia Plc
Interim Management Statement
26 October 2011
This statement is made in accordance with Rule 4.3 of the UK Listing Authority's Disclosure and Transparency Rules and covers the period from 1 July 2011 to 26 October 2011.
The interim report issued on 25 August 2011 has been posted to shareholders and includes a statement from the Chairman. That report, which can be viewed on the company's website (www.camellia.plc.uk), refers to a number of issues that would otherwise be reported in this interim management statement.
Tea production remains ahead of budget in Kenya and Malawi but below budget in India and Bangladesh. Prices remain slightly ahead of budget in all locations. Production of other horticultural crops and their sale prices are in line with our expectations except for avocado volumes which have been disapointing.
The group's UK operations have experienced volatile trading conditions. Some sites are at capacity whilst others have experienced a drop in orders. The new premises for Abbey Metal at the site in Hinkley and the new site for GU Cutting and Grinding at Stockport are now operational. Associated Cold Stores & Transport has experienced an upswing in activity but overcapacity in their industry could remain a problem for the long term.
The asset management division of Duncan Lawrie has been affected by the recent uncertainty in the equity markets. Marketing activity has been increased in an effort to target new customers.
Further enquiries please contact Camellia Plc
Malcolm Perkins
01622 746655