1st Dec 2020 19:44
MP Evans Group PLC - a producer of sustainable Indonesian palm oil - Says crude palm oil production in ten months to October 31 up 16% year on year to 216,200 tonnes. Palm kernels production grows 15% to 49,100 tonnes. Crop of fresh fruit bunches rises 19% to 963,300 tonnes.
"The group is on the threshold of a substantial increase in production, revenue and cash flow. The group's strategy is delivering consistently increasing crop. In the ten months to October 2020, the group processed 19% more fresh fruit bunches than in the same period in 2019. Palm-oil prices have also risen strongly in the last six months," company says.
Chair Peter Hadsley-Chaplin adds: "The rewards from the group's USD500 million investment in sustainable Indonesian palm oil over the last 15 years are becoming visible. We have now set ourselves an ambitious challenge to certify all the independent smallholders from whom we buy, providing financial benefit to our suppliers and improving the traceability of our own supply chains. MP Evans firmly believes that traceability is the key to sustainability."
Current stock price: 625.00 pence
Year-to-date change: down 12%
By Paul McGowan; [email protected]
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