Camellia Regulatory News (CAM)

27 Mar 2008 15:09

Camellia PLC27 March 2008 Camellia Plc Interim Management Statement 27 March 2008 For Immediate Release Interim Management Statement This statement is made in accordance with Rule 4.3 of the UK Listing Authority'sDisclosure and Transparency Rules and covers the period from 1 January 2008. The majority of the group's operations have made a satisfactory start to 2008.There are however external factors that have affected some of our operationsduring the period under review although it is not expected that any of thesematters will have a material impact on the group's financial performance. Agriculture and Horticulture Kenya has suffered a prolonged drought. The disturbances in Kenya following theelections in December 2007 are to be regretted. It is hoped that the recentagreement between the two opposing factions will provide a peaceful solution tothe problems. The group suffered only minor damage and there were no injuries tostaff or their families during the period of increased tension. Production wasnot significantly affected by the unrest, but continues to be impacted by thedrought. India has also encountered dry weather conditions and decreased crops. Generally tea prices have been stronger than the previous year. High tea pricesin Kenya at the beginning of the year have recently moderated. The weakness of the US dollar will impact on the earnings of our operations inparticular in Kenya and Chile. Production costs have increased on account of higher energy and fertiliserprices. UK Operations The recent falls in global stock market values will inevitably lead toreductions in Duncan Lawrie Limited's investment management income. Costs willalso be higher due to the integration of the three operating subsidiaries.Duncan Lawrie Limited is not affected by the current banking crisis and has noexposure to the sub-prime mortgage market. Associates Siegfried Holding AG announced that, with effect from 1 January 2008, it hassigned long term cooperation agreements with Arena Pharmaceuticals. Inc. of SanDiego. Arena has acquired the pharmaceutical final dosage production unit fromSiegfried in Zofingen and Siegfried will act as Arena's outsourcing partner foractive pharmaceutical ingredients. Camellia Plc will announce its results for the year ended 31 December 2007 on 24April 2008. For further enquiries please contact Camellia PlcMalcolm Perkins, Chairman01622 74665527 March 2008 This information is provided by RNS The company news service from the London Stock Exchange