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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 H1 Net Loss Group Share Narrows to USD 0.7 Mln

Thu 13th August, 2020 5:59am
Aug 13 (Reuters) - SIPEF NV  SIFB.BR :
    * HALF-YEAR RESULTS OF THE SIPEF GROUP AS PER 30 JUNE 2020
    * SO FAR, COVID-19 HAD NO SIGNIFICANT DIRECT NEGATIVE
FINANCIAL
IMPACT ON THE OPERATIONAL ACTIVITIES OF THE SIPEF GROUP, EXCEPT
FOR THE EFFECT OF A SUDDEN SHARP DROP IN THE PRICE OF PALM OIL
SINCE MID-FEBRUARY
    * GROUP EXPECTS A RETURN TO A RECURRING PROFIT POSITION FOR
THE
YEAR 2020.
    * TO DATE, SIPEF HAS SOLD 76% OF THE EXPECTED PALM OIL
PRODUCTION
FOR 2020
    * OIL PRODUCTION SOLD AT AVERAGE PRICE OF USD 692 PER TONNE
CIF
ROTTERDAM, PREMIUMS INCLUDED
    * 30 JUNE 2020 NET RESULT, SHARE OF THE GROUP, AMOUNTED TO
KUSD
-712, COMPARED TO KUSD -5 205 ON 30 JUNE 2019
    * IN LINE WITH THE INCREASE IN THE OPERATING RESULT, THE
CASH FLOW
FROM OPERATING ACTIVITIES INCREASED FROM KUSD 19 953 OVER THE
FIRST SIX MONTHS IN 2019 TO KUSD 26 416 OVER THE SAME PERIOD
THIS YEAR
    * GROSS PROFIT INCREASED FROM KUSD 14 330 AT THE END OF JUNE
2019
TO KUSD 20 023 AT THE END OF JUNE 2020
    * A DELAY HAS ALSO BEEN OBSERVED IN A NUMBER OF INDUSTRIAL
INVESTMENT PROJECTS AND WILL THEREFORE ONLY BE REALISED IN 2021
    * H1 TOTAL REVENUE INCREASED TO USD 118 MILLION (+4%
COMPARED WITH
THE FIRST HALF OF 2019)

Source text for Eikon:  ID:nNDL3dX6Jr 
Further company coverage:  SIFB.BR 

 (Gdansk Newsroom)
 ((Gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))
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