M. P. Evans Group PLC Crop and production update (5666F)

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RNS Number : 5666F

M. P. Evans Group PLC

19 July 2021

M. P. EVANS GROUP PLC

("THE GROUP")

2021 H1 crop and production

The Group is pleased to announce the following crop and production information for the six months ended 30 June 2021.

 
                                  H1 2021   Increase   H1 2020 
                                   Tonnes          %    Tonnes 
 Crop of fresh fruit bunches 
  ("ffb") 
 Own crop                         413,200         24   334,100 
 Scheme smallholder crop          120,900         43    84,600 
 Independent smallholder crop     168,200         28   130,900 
                                ---------  ---------  -------- 
                                  702,300         28   549,600 
                                =========  =========  ======== 
 
 Production* 
 Crude palm oil ("CPO")           161,400         29   124,800 
 Palm kernels ("PK")               34,700         25    27,800 
                                =========  =========  ======== 
 
 

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

Crop and production continued to increase in the first half of 2021. Particularly notable were the doubling of crop at Musi Rawas as the palms mature at that developing estate, and a 72% increase at Bangka as crops recovered from a period of low rainfall that had affected production in 2020. All estates and mills have operated without interruption during the period, with appropriate Covid-19 safety measures in place.

In the period to the end of June 2021, the Group realised an average price at mill gate of US$724 per tonne compared with US$541 in the first half of 2020, an increase of 34%. Prices for palm kernels averaged US$491 per tonne (mill gate), higher than the US$298 per tonne in 2020.

Considering the reported crop growth, combined with the increase in CPO prices, it remains the board's intention to recommend a total dividend of 30 pence per share in respect of 2021, as indicated in the 2020 annual report.

Enquiries:

 
 M.P. Evans Group PLC   Telephone: [phone] 
 

Peter Hadsley-Chaplin, executive chairman

Matthew Coulson, finance director

 
 Peel Hunt LLP   Telephone: [phone] 
 

Dan Webster

Andrew Clark

 
 finnCap   Telephone: [phone] 
 

Tim Redfern

Chris Raggett

 
 Hudson Sandler   Telephone: [phone] 
 

Charlie Jack

Elfie Kent

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July 19, 2021 02:00 ET (06:00 GMT)