REG - M. P. Evans Group - Crop and Production update

M P EvansAnnouncement

24/07/2024 07:00

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RNS Number : 5201X  M. P. Evans Group PLC  24 July 2024

M. P. EVANS GROUP PLC

("THE GROUP")

2024 H1 crop and production

M.P. Evans Group PLC, a producer of sustainable Indonesian palm oil, is
pleased to announce the following crop and production information for the six
months ended 30 June 2024.

 

                                            H1 2024  Increase  H1 2023
                                      Tonnes         %         Tonnes
 Crop of fresh fruit bunches ("ffb")
 Own crops                            437,900        7         408,100
 Scheme-smallholder crops             128,300        3         124,900
 Independent crops purchased          193,500        3         188,100
                                      759,700        5         721,100

 Production*
 Crude palm oil ("CPO")               177,000        6         166,200
 Palm kernels ("PK")                  39,200         13        34,600

*- figures include production from the Group's crop sold to third-party mills.

The total crop of ffb processed by the Group in the first half of 2024 was 5%
higher than that processed in the same period of 2023. The Group's estate at
Kota Bangun in East Kalimantan performed particularly well in the early part
of the year and, in addition, the Group is benefiting from an increasing crop
from the areas acquired during 2023. Some of the Group's other estates
experienced a slower start in 2024, as was the case last year, but the Group
expects higher cropping levels in the second half. Average extraction rates
for both CPO and PK are up on the first half of 2023, with almost all crop
processed in the Group's mills.

In the period to the end of June 2024, the Group realised an average CPO price
at mill gate of US$771 per tonne compared with US$755 in the first half of
2023, an increase of 2%. Prices for PK averaged US$437 per tonne (mill gate),
7% higher than the US$410 per tonne in 2023.

Enquiries:

 M.P. Evans Group PLC  Telephone: +44 (0) 1892 516333

Peter Hadsley-Chaplin, chairman
Matthew Coulson, chief executive

Luke Shaw, chief financial officer

 

 Cavendish Capital Markets (Nomad and broker)  Telephone: +44 (0) 20 7220 0500

Matt Goode, George Lawson (Corporate Finance)

Tim Redfern, Harriet Ward (ECM)

 

 Hudson Sandler (Financial PR)  Telephone: +44 (0) 20 7796 4133

Charlie Jack, Charlotte Cobb, Francis Kerrigan

 

 

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