11th Aug 2025 10:15
(Alliance News) - Anglo-Eastern Plantations PLC on Monday reported a sharp rise in profit in the first half of 2025, supported by higher crude palm oil and palm kernel prices, and announced a new GBP8 million share buyback programme to run until June 2026.
The producer of palm oil and rubber across Indonesia and Malaysia said pretax profit for the six months that ended June 30 rose 78% to USD62.6 million from USD35.2 million a year earlier. Revenue climbed 39% to USD230.5 million from USD166.1 million.
The company said the average ex-mill crude palm oil price achieved was USD863 per metric tonne, up 15% from USD749, while the palm kernel price surged 80% to USD738 per tonne from USD411. Fresh fruit bunch production increased 7% year-on-year, with crude palm oil output up 12%.
The company said the board intends to declare an interim dividend by the end of the third quarter.
Chair Jonathan Law said: "I am very pleased to report another strong set of results for AEP that reflect higher sales volume and CPO prices, as well as strong external crop intake. We are expecting CPO prices to remain robust in the coming months."
The company's cash position at June 30 was USD244.7 million, up from USD183.2 million at the end of December, with no bank borrowings.
The share buyback will be run by Cavendish Capital Markets Ltd. Anglo-Eastern said it thinks its shares are undervalued relative to its "strong fundamentals and growth potential". The buyback is expected to increase earnings per share and return value to shareholders.
Shares in Anglo-Eastern Plantations were up 7.5% to 1,034.50 pence in London on Monday morning.
By Eva Castanedo, Alliance News reporter
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