Last checked at 19 Jul 2021 07:00
M. P. EVANS GROUP PLC
("THE GROUP")2021 H1 crop and production
The Group is pleased to announce the following crop and production information for the six months ended 30 June 2021.
H1 2021 | Increase | H1 2020 | ||
Tonnes | % | Tonnes | ||
Crop of fresh fruit bunches ("ffb") | ||||
Own crop | 413,200 | 24 | 334,100 | |
Scheme smallholder crop | 120,900 | 43 | 84,600 | |
Independent smallholder crop | 168,200 | 28 | 130,900 | |
702,300 | 28 | 549,600 | ||
Production* | ||||
Crude palm oil ("CPO") | 161,400 | 29 | 124,800 | |
Palm kernels ("PK") | 34,700 | 25 | 27,800 | |
*- figures include production from the Group's crop sold to third-party mills.
Crop and production continued to increase in the first half of 2021. Particularly notable were the doubling of crop at Musi Rawas as the palms mature at that developing estate, and a 72% increase at Bangka as crops recovered from a period of low rainfall that had affected production in 2020. All estates and mills have operated without interruption during the period, with appropriate Covid-19 safety measures in place.
In the period to the end of June 2021, the Group realised an average price at mill gate of US$724 per tonne compared with US$541 in the first half of 2020, an increase of 34%. Prices for palm kernels averaged US$491 per tonne (mill gate), higher than the US$298 per tonne in 2020.
Considering the reported crop growth, combined with the increase in CPO prices, it remains the board's intention to recommend a total dividend of 30 pence per share in respect of 2021, as indicated in the 2020 annual report.
Enquiries:
M.P. Evans Group PLC | Telephone: +44 (0) 1892 516333 |
Peter Hadsley-Chaplin, executive chairman Matthew Coulson, finance director
Peel Hunt LLP | Telephone: +44 (0) 20 7418 8900 |
Dan WebsterAndrew Clark
finnCap | Telephone: +44 (0) 20 7220 0500 |
Tim RedfernChris Raggett
Hudson Sandler | Telephone: +44 (0) 20 7796 4133 |
Charlie JackElfie Kent