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MP Evans Group PLC - producer of Indonesian palm oil - Posts a pretax profit of $61.2 million for the six months to June 30, up 53% from $40.1 million a year earlier, as revenue increases by 33% to $170.3 million from $128.0 million. Says there is a 4.2% rise in crop production to 430,400 tonnes from 413,200 tonnes a year ago. Ups interim dividend per share to 12.5 pence, representing a 25% increase from 10.0p a year prior.
Executive Chair Peter Hadsley-Chaplin says: ‘The group has delivered an excellent set of results for the first half of 2022, supported by [crude palm oil] price environment, but once again demonstrating the benefits of the group's commitment to long-term responsible management and development of its estates.’
Says it achieves an average mill-gate price for its CPO of $1,035 per tonne, 43% higher than that achieved for the same period in 2021.
Current stock price: 810.00 pence, down 0.3%
12-month change: up 2.8%
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