29th Apr 2022 14:43
Anglo-Eastern Plantations PLC - palm oil and rubber producer in Indonesia and Malaysia - Records revenue of USD433.4 million in 2021, up 64% from USD263.8 million in 2020. Pretax profit more than doubles to USD132.7 million from USD56.9 million. Attributes results to high crude palm oil prices throughout the year and higher fresh fruit bunch production, due to improved weather. Declares a final dividend of 5.0 cents per share, which reflects a sharp increase from a final payout of 1.0 cents in 2020. Notes that a resurgence of the pandemic, the EU's plans to reduce the use of palm oil for biofuel in 2024, and the current geopolitical uncertainty with the war in Ukraine remain potential risks that could hurt operations. Read More
