IN BRIEF: REA Holdings swings to full-year loss while revenue declines
26th Apr 2024 21:25
REA Holdings PLC - London-based company engaged in oil palm cultivation in Indonesia, as well as in producing crude palm and palm kernel oil - On Thursday, says revenue in 2023 falls to USD176.7 million from USD208.8 million. Cost of sales also falls to USD142.4 million from USD147.8 million. Swings to pretax loss of USD29.2 million from profit of USD42.0 million. Basic loss per share totals 32.7 US cents compared to EPS of 43.1c. Explains loss follows losses on disposals of subsidiaries and similar charges of USD26.0 million. Says CPO prices are firm and are expected to remain at remunerative levels as limited availability of land and increasing regulatory restrictions constrain expansion of oil palm hectarage. Read More