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New Britain Palm Oil - Broker initiates coverage with 800p price target

April 2008

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • NBPO
  • Price:
  • 498p
With the price of palm oil establishing a new record of nearly US$1,400 / tonne, shares in New Britain Palm Oil celebrated by spiking to a new high of 594p. Soon afterwards it revealed a strong set of results for the year to 31 December with revenues rising 68% to US$225m and profit after tax increasing from nearly US$48m to US$87m. Meanwhile, excluding the effect of re-valuing biological assets, the profit was up from $21.4m to $59.2m. Part of this success came from achieving higher average selling prices of US$686 per tonne compared to US$489 in 2006 but it also enjoyed a significant hike in output in its Papua New Guinea plantations, with production of crude palm oil and palm kernel oil increasing to just over 300,000 tonnes. T ...

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New Britain Palm Oil (October 2012)
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New Britain Palm Oil - Shares oversold on 2012 PE of 8.6 (November 2011)
New Britain Palm Oil - Explosive growth from PNG palm oil grower (August 2011)
New Britain Palm Oil - Very strong growth expected from store expansion (July 2011)
New Britain Palm Oil - Gain to date: 153% (April 2011)
New Britain Palm Oil (November 2010)
New Britain Palm Oil - Acquisition transforms prospects for palm oil producer (April 2010)
New Britain Palm Oil - High quality palm oil producer looks good value again (December 2009)
New Britain Palm Oil (September 2008)
New Britain Palm Oil - First major acquisition since float (July 2008)
New Britain Palm Oil - Exciting new issue in red-hot palm oil sector (February 2008)

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