Updates

MP Evans - On track for big production increase

July 2011

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.

High prices and solid production growth helped palm oil producer MP Evans beat brokers forecasts for its final results. For the year to 31 December these showed an 18% increase in pretax profit to US$24.5m on group revenues that rose 48% to US$42.1m. Eps rose 18% to 41.2 cents. Growth came mainly through its Indonesian palm oil plantations, which increased gross profit 70% to US$22.4m thanks to higher average realised palm oil prices of US$905 / tonne versus US$680 the year before, which although well below prevailing market prices, reflect the progressive export tax charged by the Indonesian Government once prices go above US$900 / tonne. Growth also came thanks to a 15% increase in production, which reflected an increase in plan ...

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