Crop and production update

RNS Announcement

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: +44 (0) 1892 516333

Peter Hadsley-Chaplin, executive chairman
Matthew Coulson, finance director

Peel Hunt LLP

Telephone: +44 (0) 20 7418 8900

Dan Webster
Andrew Clark

finnCap

Telephone: +44 (0) 20 7220 0500

Tim Redfern
Chris Raggett

Hudson Sandler

Telephone: +44 (0) 20 7796 4133

Charlie Jack
Elfie Kent

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RNS metadata

Title: Crop and production update
Time: 07:00:06
Date: 19 Jul 2021
Category: Corporate updates
ID: 5666F