REG - Camellia PLC - Final Results
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RNS Number : 9100C Camellia PLC 05 May 2026
5 May 2026
Camellia Plc
('Camellia', the 'Company' or the 'Group')
Final Results for the 12 months ended 31 December 2025
"Positive results from our early actions under the strategic direction
announced in the year"
Camellia is pleased to announce its Final Results for the 12 months ended 31
December 2025 ('FY25'). The results for FY25 reflect the early impact of our
Value Enhancement Plan (VEP) which aims to deliver improved operating results,
reduced risk and higher long-term growth.
FY25 Financial Highlights:
· Key metric of trading performance improved, with a trading profit
of £1.0m supported by early contributions from concerted management actions
under the VEP (FY24: £5.5m trading loss)
· Group revenues from continuing activities of £268m (FY24:
£262m)
· EBITDA of £11.3m (FY24: £14.8m)
· Loss after tax from continuing operations improved to £4.2m
(FY24: £4.7m loss)
· Successful disposals of non-core businesses and assets generating
cash proceeds of £20m, contributing to year-end net cash, treasury deposits,
gilts and money market investments of £133.6m (FY24: £124.7m)
· Proposed final ordinary dividend maintained at 260p per share
(FY24: 260p) equating to £6.5m outflow and funded out of reserves, reflecting
the Board's confidence in the Group's direction and prospects
FY25 Operational and Strategic Highlights:
· Clear strategic direction provided through announcement of the
VEP in May 2025, with good progress made in the foundation year
· Disposals of consistently unprofitable / non-core operating
assets in the UK and in India
· Investing in growth, with total £15m investment capital
committed from 2026-2031 covering four projects and targeted to generate new
revenue of £35m by 2034. All four projects leverage existing land, core
infrastructure and management teams, improving return on assets:
o Continued investment in two material growth initiatives:
§ Further 100Ha of planting at Tanzanian avocado farm bringing total planting
over past five years to 458Ha; and
§ Conversion of commercial forestry to higher-return arable production in
Brazil bringing total land converted to 545Ha
o Two new growth projects approved in late 2025 to generate significant
revenue growth over the longer term:
§ Development of 400Ha of citrus in Brazil; and
§ Commercialisation of the Kakuzi blueberry trial in Kenya with commitment to
extend the site from 10Ha to 22Ha in 2026 and aspiration to achieve 82Ha in
production by end of 2029
· Strengthened boards and leadership teams across the Group to
further support delivery of the VEP and the medium-term goal of a portfolio of
sustainably profitable businesses
· Post year-end disposal of Linton Park and some of the UK Artwork,
generating £14.7m of total proceeds and profits on disposal of £5m, with the
disposals of UK investment properties now largely complete
Byron Coombs, Chief Executive of Camellia, commented:
The Value Enhancement Plan announced in May 2025 provides clear strategic
direction for the Group and outlines a range of actions which aim to deliver
sustainable profitability, grow shareholder value, and support delivery of the
Company's purpose.
While we are still in the early stages of implementing the plan we are
seeing positive results from our actions. Our primary objectives in 2026 are
improving business efficiency to deliver better trading profits and investing
for growth."
Financial Summary Table for the 12 months ended 31 December 2025:
Financial Highlights FY25 FY24
Continuing operations
Revenue £268.0m £262.2m
Trading profit / (loss)* £1.0m (£5.5m)
Operating profit £1.2m £2.2m
Profit / before tax £3.0m £0.0m
Adjusted loss before tax* (£2.0m) (£7.0m)
Taxation (£7.2m) (£4.7m)
Loss after tax from continuing operations (£4.2m) (£4.7m)
Profit / (loss) on discontinued operations £0.1m (£0.6m)
Loss after tax (£4.1m) (£5.3m)
Loss attributable to shareholders (£4.9m) (£4.9m)
EBITDA* £11.3m £14.8m
Earning / (loss) per share from continuing operations (190.5p) (155.7p)
Earning / (loss) per share from continuing and discontinued operations (186.7p) (177.4p)
Total ordinary dividend in respect of the financial year 260p 260p
Net cash, treasury deposits, gilts and money market instruments* £133.6m £124.7m
Net Assets £329.5m £347.7m
Investment £11.9m £9.4m
* Additional performance measures ('APM'), reconcilable in the financial
statements / notes below.
2025 Annual Report and Directorate Change:
The Group's 2025 annual report along with the notice of the AGM is now
available on the Group's website https://www.camellia.plc.uk
(https://www.camellia.plc.uk) , and will be despatched to shareholders on or
before 8 May 2026.
After 13 year's service with the Company, Frédéric Vuilleumier, independent
non-executive director, has decided not to put himself up for re-election as a
director at the Company's forthcoming AGM. Frédéric will therefore retire
from the Board at the conclusion of the AGM on 4 June 2026. The Board thanks
Frédéric for his service to the Company.
Investor Webcast Presentation:
A presentation accompanying the FY25 Results is now available on the Company's
website https://www.camellia.plc.uk/ (https://www.camellia.plc.uk/) . Camellia
will also be hosting a presentation via the Investor Meet Company platform to
discuss the FY25 Results on Wednesday, 6 May 2026 at 11am BST.
The presentation is open to all existing and potential investors and will
include a live Q&A session. Investors can sign up to the presentation and
Investor Meet Company platform for free using this link:
https://www.investormeetcompany.com/camellia-plc/register-investor. Investors
who already follow Camellia on the Investor Meet Company platform will
automatically be invited.
Questions can be submitted ahead of the presentation via the Investor Meet
Company dashboard up until 17:30 BST on 5 May 2026, or at any time during the
presentation.
This announcement contains inside information under Article 7 of the Market
Abuse Regulation (EU) No. 596/2014, as part of UK domestic law via the
European Union (Withdrawal) Act 2018.
Enquiries:
Camellia Plc
Byron Coombs, Chief Executive 01622 746655
Oliver Capon, Chief Financial Officer investorrelations@camellia.co.uk (mailto:investorrelations@camellia.co.uk)
Panmure Liberum (Nominated Adviser and Broker)
Emma Earl / Will Goode 020 7886 2500
Rupert Dearden
Equitory Limited (Investor Relations)
Catherine Miles 07909 918034
H/Advisers Maitland (Financial PR) 07785 292617
William Clutterbuck
Investors can register to receive updates and news from the Company by
registering their email address at investorrelations@camellia.co.uk
(mailto:investorrelations@camellia.co.uk) .
About Camellia:
Camellia Plc is the ultimate holding company of a group of agricultural
businesses incorporated in jurisdictions across the world (the 'Operating
Companies'), while also owning and operating other assets outside of
agriculture.
The Operating Companies have well-established and industrial-scale operations,
with reputations for high-quality products. They collectively own and manage
circa 48,000 hectares of mature land across seven countries (Bangladesh,
Brazil, India, Kenya, Malawi, South Africa, and Tanzania). The majority of
Camellia's revenue is derived from the growing of tea, avocado, macadamia,
rubber, wine grapes, blueberries, arable crops, forestry and livestock.
Camellia's purpose is to grow and nurture agricultural businesses and assets
of the highest quality - creating value for today's shareholders, while
investing for the long term. Camellia's Operating Companies are committed to
working fairly, sustainably and with integrity for the wellbeing of their
employees, communities, and the natural environment.
Chairman's Statement
In 2025 Camellia completed the first stage of its revitalisation: adopting a
new medium-term business plan (Value Enhancement Plan, or VEP); promoting a
clearer group-wide governance structure and returning capital to shareholders
through a tender offer and reinstated dividend.
We were pleased that the VEP had a positive reception from investors at its
presentation, and the results of the tender offer demonstrated to us that the
majority of investors remained aligned with our strategy; we were, however,
also able to facilitate an exit for those who were not in this position. As
stated in the VEP, our focus in the medium term is to improve operating
results, reduce risks and invest in growth, and we have begun to make progress
on each of these fronts. Reflecting the Board's confidence in the Group's
direction and prospects the proposed dividend is 260p per share, maintained at
the same level as 2024, and as with last year's this will be funded out of
reserves.
We have also made good progress on internal governance, strengthening boards
across the Group, and clarifying the relationship between operating companies
and Camellia. Where there are new leadership teams they have settled in very
quickly, benefitting from their existing deep experience in their respective
businesses, and non-executive directors have been appointed to boards where
additional management experience is required. As a committed, long-term
shareholder, the Company's aim remains to support, encourage and
constructively challenge, but never to control or direct, knowing that the
management of operating companies understand their businesses better than we
do.
Last year, I reflected on the conditions in which the Group had been
operating, noting "momentous shifts such as climate change, regional conflict,
global trade disruption and broader geo-political uncertainty". Whilst the
specific circumstances have evolved, the underlying themes have not, and they
continue to strongly influence the businesses, markets and communities in
which the Group operates.
We strive to remain true to our values which have been developed over many
years. In his Chairman's Statement for the 1996 Annual Report, Gordon Fox
stated an important principle which to this day guides the Company's approach
to business, and which we now express as "profit is our lifeblood but not our
soul"; what motivates us is how we can provide a fair return to our
shareholders, employees, communities and the environment. However, the
sustainability and value of that return is wholly dependent on improving
profitability, reducing risk, and investing in growth, giving us clear areas
of focus for the VEP.
At Board level, our newer members have integrated seamlessly into the team and
have already made outstanding contributions. We undertook an external
evaluation run by 'Board Excellence' at the end of the year and I am very
pleased to report that this considered the Board effective, and indeed strong
in a number of areas; we were also given advice as to areas of improvement,
and we welcome this opportunity for development.
This year we say farewell to two non-executive directors. We thank Rachel
English, who has been a key part of the team since 2022, for her dedication
and valuable insights, and wish her all the best for the future. Frédéric
Vuilleumier, whose strong intellect, wise counsel and calm demeanour have
brought excellent judgement and stability to the board since 2013, leaves with
our deepest gratitude and warmest wishes. We hope to announce the appointment
of a new independent non-executive director in the very near future.
As ever, the Board is grateful to all who work within the Camellia group of
companies, whose hard work and dedication bring benefits to all our investors,
communities and the environment, as together we continue to strive to do
sustainable, successful business with a human face.
Simon Turner
4 May 2026
Chief Executive's Statement
The Chairman has outlined the Board's broader achievements through 2025, and
the improvements made in corporate governance. My focus will be on the
financial results and our progress with the VEP.
Our trading results improved in 2025 driven by a combination of management
actions to reduce costs and improve product quality, and in some instances,
higher crop pricing and production volumes. Our key metric, trading
performance, showed a profit of £1.0 million, an improvement on the loss of
£5.5 million in 2024. Group revenues from continuing activities rose to
£268.0 million from £262.2 million in 2024, and loss after tax from
continuing operations improved to £4.2 million from £4.7 million. The
disposal of non-core businesses and assets generated cash of £20.0 million
contributing to year-end net cash, term deposits, gilts and money market
investments of £133.6 million, up from £124.7 million at year end 2024.
We announced the VEP in May 2025 and view 2025 as the foundation year for this
plan. The VEP has three main goals: returning Camellia to sustainable
profitability; reducing business risk; and generating revenue growth.
Returning Camellia to profitability. The Company has begun a multi-year
programme of change aimed at improving its profitability. We are focussed on
increasing the return on assets by improving operating efficiency, getting
more value from core assets and disposing of low return or non-core assets. We
made modest improvements in operational efficiency across several businesses
in 2025 and will prioritise this task in 2026. We also made progress with our
plans to dispose of consistently unprofitable and non-core assets. Two tea
gardens in India were sold in the year with an MOU for another sale announced
in 2026. The sale of eight UK investment properties in 2025, coupled with the
sale of Linton Park estate assets in 2026, almost completes the sale of UK
investment properties. The UK equity securities portfolio has been
substantially exited taking advantage of favourable market movements. Market
conditions in 2025 slowed our progress in selling other non-core assets at
attractive prices.
Reducing Camellia's business risk. An important component of the VEP is to
systematically reduce the Group's business risk over the next few years with a
goal of producing a more consistent stream of business profits. To achieve
this, we need to make changes to the current portfolio and invest our capital
in activities which diversify our revenue streams and reduce exposure to
certain risks, such as tea and weather. In 2025, as stated above, Goodricke
has reduced its tea gardens and has an interest to sell four more. The Malawi
operation has made plans to reduce its tea area and is looking at other
actions which will help reduce risk. T he Brazil operation has invested in
seven additional irrigation pivots and renovated four of its 15 on-site dams
to mitigate weather risk. The additional pivots mean that 60% of its grain
production is now irrigated, up from 53% in 2024. As a Group, we are
considering additional actions which would further reduce our exposure to
weather and other portfolio risks.
Generating revenue growth. The Company continued to invest in two material
growth initiatives in 2025: the planting of a further 100ha of avocados at
Mgagao farm in Tanzania and the conversion of a 234ha of commercial forestry
to higher return arable production at Maruque in Brazil. Over the last five
years, the conversion of forestry in Brazil has yielded an additional 544ha of
arable land, with a further 200ha scheduled in 2026. The Mgagao farm
plans to plant a further 100ha of avocados in both 2026 and 2027 which will
complete the original target of c. 650ha. Avocado production on this farm will
grow exponentially in the coming years generating revenues of c. £17.0
million p.a. by 2034. These initiatives add to the growth the Group will
experience from maturing avocado and macadamia orchards planted in recent
years at the Kenyan and South African farms.
In late 2025 the Board supported two new growth projects: the development of
400ha of citrus at the Maruque farm in Brazil; and the decision by Kakuzi in
Kenya to transition its blueberry trial to a commercial operation by extending
production from 10ha to 22ha in 2026, with an aspiration to achieve 82ha in
production by the end of 2029 . These two new investments will generate
significant revenue growth over the longer term, and as they both leverage
existing management teams, operational infrastructure, land, and water
resources, they offer attractive risk adjusted returns. These projects
illustrate how greater value can be extracted from existing assets and
expertise, a key goal of the VEP. These new projects will require c. £15.0
million of capex over the next 6 years.
While these organic investments generate growth over the medium to longer
term, the Company must also generate growth in the short to medium term. With
this in mind, the Company is seeking investment opportunities for its capital
that will provide the required bridge. It is anticipated that the growth in
capital expenditure in the coming years will be in the range of £15-25
million .
With our long-standing expertise and cash resources I believe we are well
placed to deliver the VEP. We made progress in 2025 but are clear that this
must accelerate in 2026 and beyond. Our primary objective in 2026 is improving
business efficiency to deliver better trading profits. We will also continue
to reduce portfolio risk, progress our organic growth projects, and explore
external opportunities. Our medium-term goal is a well-structured portfolio of
sustainably profitable businesses, backed by real assets, and underpinned by a
strong balance sheet.
Looking to 2026 many of our investors will know that we are unable to provide
a meaningful forward-looking view of the business at this point in the year .
We will endeavour to provide an indication of 2026 business performance in our
interim update in September. In the meantime, as we go to print, the
US/Israeli- Iran conflict is ongoing and the impact on our businesses is
widespread but variable. The principal factors are the price of fuel, energy,
fertiliser and other agronomic chemicals, the potential for logistics
challenges for tea, avocado and macadamia crops from East Africa, and the
impact on tea markets in the Middle East. The longer the restriction on
trade through the Strait of Hormuz remains in place the greater the
operational and financial impact on the Group.
An important factor in delivering our medium-term plan is the strength of our
leadership team.
I would like to note three recent appointments:
Simon Morgan was appointed as Camellia's Corporate Development Director on 20
April 2026. Simon was a partner at Silver Street Capital LLP for 13 years,
before which he was at Standard Bank Plc for 16 years. Latterly he led the
Bank's emerging markets infrastructure private equity and credit funds,
focusing on Africa and Southeast Asia. Simon grew up in Zimbabwe and brings
strong corporate finance expertise alongside a deep understanding of
agri-business value creation, and significant experience investing across East
and Southern Africa.
Shaibal Dutt was appointed by Goodricke Group Limited as Managing Director on
6 September 2025. He joined the company in 1994 after completing a bachelor's
degree in political science. With more than three decades of hands‑on
experience across both the Bulk and Branded Tea divisions, Shaibal brings deep
expertise and valuable insight to his new role.
Mustafizur Rahman was appointed by Duncan Brothers as Managing Director on 1
January 2025. He previously served as Chief Operating Officer and has spent
more than a decade with the company. Before joining Duncan Brothers,
Mustafizur worked in financial services and renewable energy. He holds a
bachelor's degree in electrical engineering, a master's degree in engineering
management, and an MBA in Finance.
Camellia was built with a clear purpose in mind and on a foundation of strong
values. The executive team in Kent and the management teams within the
operating companies remain committed to the Company's purpose and the values.
The Camellia philosophy and approach to business is crucial to our long-term
success and our ability to generate attractive shareholder returns.
Byron Coombs
4 May 2026
Consolidated Profit and Loss Account
2025 2024
£'m £'m
Continuing operations
Revenue 268.0 262.2
Cost of sales (212.2) (213.2)
Gross profit 55.8 49.0
Other operating income 2.8 2.4
Distribution costs (18.7) (17.6)
Administrative expenses (38.9) (39.3)
Trading profit/(loss) 1.0 (5.5)
Share of associates' results - 0.2
Loss on disposal of associates - (4.7)
Profit on disposal of assets classified as held for sale 1.6 11.5
Profit on disposal of tea estates, properties and heritage assets 4.7 1.0
Impairments of held for sale assets, bearer plants and investment properties (1.3) (0.8)
Other gains and losses (5.1) 0.2
Profit on disposal and fair value movements on money market investments 0.3 0.3
Operating profit 1.2 2.2
Investment income 0.5 2.8
Finance income 5.2 2.5
Finance costs (3.4) (3.5)
Net exchange gain/(loss) 0.2 (3.3)
Employee benefit expense (0.7) (0.7)
Net finance income/(cost) 1.3 (5.0)
Profit before tax 3.0 -
Taxation (7.2) (4.7)
Loss for the year from continuing operations (4.2) (4.7)
Discontinued operations
Profit/(loss) for the year from discontinued operations 0.1 (0.6)
Loss after tax (4.1) (5.3)
(Loss)/profit attributable to:
Owners of Camellia Plc (4.9) (4.9)
Non-controlling interests 0.8 (0.4)
(4.1) (5.3)
Loss per share - basic and diluted
From continuing operations (190.5)p (155.7)p
From continuing and discontinued operations (186.7)p (177.4)p
Consolidated Balance Sheet
31December 31December
2025 2024
£'m £'m
ASSETS
Non-current assets
Intangible assets 4.5 4.8
Property, plant and equipment 136.9 146.6
Right-of-use assets 11.7 12.6
Investment properties 1.2 13.9
Biological assets 14.7 15.2
Equity investments at fair value through other comprehensive income 14.6 30.4
Money market investments at fair value through profit or loss 5.7 4.3
Held for maturity gilt investments at amortised cost 35.3 -
Other investments - heritage assets 2.0 7.3
Retirement benefit surplus 1.4 -
Trade and other receivables 1.7 2.2
Total non-current assets 229.7 237.3
Current assets
Inventories 38.6 46.9
Biological assets 8.7 7.8
Trade and other receivables 41.0 38.5
Money market investments at fair value through profit or loss 0.4 0.5
Treasury deposits at amortised cost 40.9 39.9
Current income tax assets 0.7 0.5
Cash and cash equivalents (excluding bank overdrafts) 65.9 98.7
196.2 232.8
Assets classified as held for sale 14.1 6.2
Total current assets 210.3 239.0
LIABILITIES
Current liabilities
Financial liabilities - borrowings (12.3) (15.6)
Lease liabilities (0.8) (0.6)
Trade and other payables (43.8) (55.3)
Current income tax liabilities (2.7) (1.4)
Employee benefit obligations (0.5) (0.4)
Provisions (6.9) (7.5)
(67.0) (80.8)
Liabilities related to assets classified as held for sale - -
Total current liabilities (67.0) (80.8)
Net current assets 143.3 158.2
Total assets less current liabilities 373.0 395.5
Non-current liabilities
Financial liabilities - borrowings (2.3) (3.1)
Lease liabilities (7.0) (7.6)
Deferred tax liabilities (27.4) (28.0)
Employee benefit obligations (6.8) (9.1)
Total non-current liabilities (43.5) (47.8)
Net assets 329.5 347.7
EQUITY
Called up share capital 0.3 0.3
Share premium 15.3 15.3
Reserves 276.0 292.9
Equity attributable to owners of Camellia Plc 291.6 308.5
Non-controlling interests 37.9 39.2
Total equity 329.5 347.7
Consolidated Cashflow Statement
2025 2024
£'m £'m
Cash generated from operations
Cash flows from operating activities 10.1 4.7
Interest received 4.4 2.5
Interest paid (3.1) (3.5)
Income taxes paid (3.4) (5.9)
Contribution to defined benefit pension plan (1.0) (1.0)
Cash received from discontinued operation - 6.5
Net cash generated from operating activities 7.0 3.3
Net cash used by discontinued operations (0.1) (5.9)
Net cash flow used by operations 6.9 (2.6)
Cash flows from investing activities
Purchase of intangible assets - (0.1)
Purchase of property, plant and equipment (11.9) (9.4)
Proceeds from sale of non-current assets 11.8 4.2
Proceeds from sale of assets held for sale 8.4 82.2
Proceeds from the sale of associates - 7.9
Biological assets: non-current - net (addition)/disposals (0.2) 0.2
Dividends received from associates - 0.3
Dividends received from discontinued operations 0.1 -
Acquisition of non-controlling interest - (0.3)
Purchase of investments (46.1) (41.8)
Proceeds from sale of investments 22.8 5.7
Income from investments 0.5 2.8
Net cash generated from investing activities (14.6) 51.7
Net cash (used by)/generated from investing activities - disc. operations (0.1) 6.3
Net cash flow (used by)/generated from investing activities (14.7) 58.0
Cash flows from financing activities
Equity dividends paid (6.6) -
Purchase of own shares (12.7) (0.2)
Dividends paid to non-controlling interests (0.8) (3.0)
New loans - 0.9
Loans repaid (0.9) (4.8)
Payments of lease liabilities (0.8) (0.6)
Net cash flow used by financing activities (21.8) (7.7)
Net cash used by financing activities - discontinued operations - (1.3)
Net cash flow used by financing activities (21.8) (9.0)
Impact of hyperinflation (0.8) (0.5)
Net (decrease)/increase in cash and cash equivalents from continuing (30.2) 46.8
operations
Net cash outflow from discontinued operation (0.2) (0.9)
Cash and cash equivalents at beginning of period - continuing (incl. cash with 83.6 32.8
restrictions)
Cash and cash equivalents at beginning of period - discontinued 0.2 1.1
Exchange gains on cash 0.7 4.0
Cash and cash equivalents at end of period - continuing (incl. cash with 54.1 83.6
restrictions)
Cash and cash equivalents at end of period - discontinued - 0.2
Cash and cash equivalents at end of period - total (including cash with 54.1 83.8
restrictions)
Selected notes
1. Proposed dividend
The board has proposed a final dividend in respect of the 2025 financial year
of 260p per ordinary share, amounting to £6.5 million. Subject to
shareholders' approval at the 2026 annual general meeting, the dividend will
be paid on or after 30 July 2026 to shareholders on the register at the close
of business on 3 July 2026.
Ex-dividend date 2 July 2026
Record date 3 July
2026
Dividend payable on or after 30 July 2026
2. Basic and diluted earnings per share
Loss 2025 EPS Pence Loss 2024 EPS Pence
£'m Weighted average £'m Weighted average
number of shares number of shares
Basic and diluted EPS
Attributable to ordinary (5.0) 2,624,141 (190.5) (4.3) 2,761,748 (155.7)
shareholders -continuing operations
Attributable to ordinary (4.9) 2,624,131 (186.7) (4.9) 2,761,748 (177.4)
shareholders -continuing and
discontinued operations
3. Separately disclosed significant items
2005 2004
£'m
£'m
Loss on disposal of associates - (4.7)
Profit on disposal of assets classified as held for sale 1.6 11.5
Profit on disposal of tea estates, properties and heritage assets 4.7 1.0
Impairments of held for sale assets, bearer plants and investment properties (1.3) (0.8)
Separately disclosed significant items 5.0 7.0
4. Reconciliation of profit from operations to cash flow
2025 2024
£'m £'m
Group
Profit from operations 1.2 2.2
Share of associates' results - (0.2)
Depreciation and amortisation 9.1 9.1
Depreciation of right-of-use assets 0.5 0.7
Impairment of assets 1.3 0.8
Realised movements on biological assets - non-current (0.3) (2.2)
Money market investments at fair value through profit or loss - gain (0.3) (0.3)
Other gains and losses 5.1 (0.2)
Profit on disposal of non-current assets (4.7) (0.8)
Loss on disposal of associates - 4.7
Profit on disposal of assets classified as held for sale (1.6) (11.5)
Movement in provisions 0.2 -
Decrease in inventories 4.5 0.8
(Increase)/decrease in biological assets (1.0) 1.2
(Increase)/decrease in trade and other receivables (4.5) 7.3
Increase/(decrease) in trade and other payables 0.6 (6.9)
Cash generated from operations 10.1 4.7
5. Financial information
The financial information included in this announcement has been derived from
the Company's audited accounts but does not itself constitute statutory
accounts within the meaning of section 435 of the Companies Act 2006. The
statutory accounts for the financial year ended 31 December 2025 have been
reported on by the Group's auditor, Deloitte LLP, and will be filed with the
Registrar of Companies. The report of the auditors thereon was unqualified and
did not contain a statement under section 498(2) or (3) of the Companies Act
2006, nor did it contain any matters to which the auditors drew attention
without qualifying their audit report.
6. International Accounting Standards
This announcement is based on the Group's financial statements which were
prepared in accordance with UK-adopted International Accounting Standards
7. 2025 annual report
The Group's 2025 annual report along with the notice of the annual general
meeting is available on the Group's website and will be despatched to
shareholders on or before 8 May 2026. Printed copies of the Group's 2025
annual report will be available from the Company at Wrotham Place, Bull Lane,
Wrotham, Near Sevenoaks, Kent TN15 7AE or via email from
investorrelations@camellia.co.uk. The 2025 annual general meeting will be held
on Thursday 4 June 2026.
By order of the board
Nischal Hindia
Company secretary
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