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New Britain Palm Oil

October 2012

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:
  • 665p
A rare setback for Papua New Guinea-based palm oil producer, New Britain, whose first half results were well below expectations. Revenues fell from US$404m to US$366m while pretax profit dropped an alarming 60% to US$63.6m. There was a “perfect storm†of lower average crude palm oil (CPO) prices of US$1,100 / tonne versus US$1,122 / tonne and low palm kernel oil prices (US$1,476 versus US$2,096) and abnormally high rainfall, inhibiting workers ability to collect and transport the produce, reducing output 9% to 291,728 tonnes. The other factors included a 20% year-on-year appreciation of the local currency, the Kina against the US$, accelerated re-plantings from land that came with its Kula acquisition and most alarmingly ...

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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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