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New Britain Palm Oil

November 2010

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:
  • 675p
Amidst the backdrop of strong prices New Britain published first half results 5% ahead of expectations. Revenues rose 27% to US$205m, while pretax profit increased nearly 19% to US$49.7m. Eps increased from 21 cents to 23.2 cents. Net debt was US$269m, including a 12 month US$200m facility taken on to fund the acquisition of CTP and this will be refinanced later in the year. The excellent growth reflects a 24% increase in output to a record 950,000 tonnes of fresh fruit bunches, including a two month contribution of nearly 142,000 from CTP. Total palm oil production increased 12% to 229,595 tonnes, while average prices increased from US$730 to US$792. Looking ahead prospects remain excellent, with prices rising above US$900 ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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