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CAM Camellia Plc

4,440.00
-60.00 (-1.33%)
Last Updated: 13:39:24
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Camellia Plc LSE:CAM London Ordinary Share GB0001667087 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -60.00 -1.33% 4,440.00 4,440.00 4,580.00 4,500.00 4,360.00 4,360.00 1,930 13:39:24
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Offices-holdng Companies,nec 320.9M -13M -4.7067 -9.43 122.63M

Camellia PLC AGM Statement (7799G)

01/06/2017 11:30am

UK Regulatory


Camellia (LSE:CAM)
Historical Stock Chart


From Mar 2019 to Mar 2024

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TIDMCAM

RNS Number : 7799G

Camellia PLC

01 June 2017

Camellia Plc

AGM Statement

Camellia Plc has today issued the following update on trading in the year to date.

Weather conditions have been generally dry in the first half of the year, with a late start to the rains in India and Bangladesh leading to a delayed start to the season. In Kenya the long rains also began late which has led to a significantly reduced tea crop. The consequent impact on prices and therefore the overall performance of the tea business for the year is still to be determined.

The aftermath of the drought in 2016 in Kenya, Malawi and South Africa continues to be felt across our macadamia operations and the harvest in all our areas of production is expected to be significantly below that of last year, although prices have held up. Avocados have also been hit by the dry weather which is expected to result in reduced volumes and fruit size. However, prices, particularly in Europe, are at record highs. Again, with the harvest still underway it is too early to assess the overall impact or to predict the prices we will achieve as the season continues.

In California, a good snowpack, coupled with higher levels of rainfall over the winter has improved the surface water supply on the orchards. The murcott and navel orange harvests have been exceptional and prices remain firm. We are optimistic about the almond crop and this is an off year for pistachios. In Brazil the soya yields have been excellent although prices remain under pressure.

The remaining agricultural businesses are trading in line with expectations.

In the UK, the engineering operations continue to trade as anticipated; the aerospace and general engineering businesses are busy but the Scottish oil related businesses have yet to see any meaningful upturn.

The Food Service division has had a busy start to the year and is trading well ahead of last year.

As previously announced, the sale of Duncan Lawrie Asset Management to Brewin Dolphin was completed in May and the final steps are now being taken to wind down the remainder of the Duncan Lawrie businesses.

Camellia's overall results are largely dependent on agriculture and the majority of the harvesting, and hence sales, takes place in the second half of the year. It is therefore too early to give an indication of the likely results for 2017.

This announcement contains inside information for the purpose of Article 7 of the Market Abuse Regulation (EU) N0. 596/2014.

Enquiries

 
 Camellia Plc                     01622 746655 
 Malcolm Perkins, Chairman 
  Tom Franks, CEO 
 Susan Walker, CFO 
 
 Panmure Gordon                  020 7886 2500 
 Nominated Adviser and Broker 
 Andrew Godber 
 Erik Anderson 
 James Greenwood 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

AGMBFLBBDQFFBBX

(END) Dow Jones Newswires

June 01, 2017 06:30 ET (10:30 GMT)

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