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SIP - Sipef NV News Story

€44.1 -0.3  -0.7%

Last Trade - 4:35pm

Sector
Consumer Defensives
Size
Mid Cap
Market Cap £400.8m
Enterprise Value £473.8m
Revenue £198.1m
Position in Universe 341st / 847

BRIEF-Sipef FY Operating Profit Down At 42.7 Million Euros

Thu 14th February, 2019 6:47am
Feb 14 (Reuters) - SIPEF NV  SIFB.BR :
    * THE EXPECTED GROWTH OF THE PALM OIL PRODUCTIONS IN THE
FOURTH
QUARTER WAS NOT ACHIEVED DUE TO HIGH RAINFALL IN SUMATRA.
    * THE ANNUAL PRODUCTION OF PALM OIL ROSE BY 6.3% AND
EXCEEDED THE
350 000-TONNE MARK FOR THE FIRST TIME
    * THE BOARD OF DIRECTORS PROPOSES TO APPROVE A GROSS
DIVIDEND OF
EUR 0.55 PER SHARE, PAYABLE ON JULY 3, 2019
    * FY NET IFRS RESULT, SHARE OF THE GROUP, AMOUNTED TO KUSD
30 089,
COMPARED WITH KUSD 139 663 PER END 2017, AFTER NON-RECURRING
CAPITAL GAINS
    * FY OPERATING PROFIT $ 42.7 MILLION VERSUS $90.3 MILLION
YEAR AGO
    * FY REVENUE $ 275.3 MILLION VERSUS $321.6 MILLION YEAR AGO
    * IN RECOVERING PALM OIL MARKET, 23% OF  EXPECTED 2019 PALM
OIL
PRODUCTION WAS ALREADY SOLD AT AVERAGE PRICE OF $584 PER TON CIF
ROTTERDAM
    * THE OUTLOOK FOR WORLD PRODUCTION IN 2019 IS OF A MODERATE
GROWTH, A SIGNIFICANTLY MORE LIMITED INCREASE VERSUS 2018

Source text: https://bit.ly/2RXre9D
Further company coverage:  SIFB.BR 

 (Gdynia Newsroom)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))
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