M. P. Evans Group (MPE)

Sector:

Food

Index:

FTSE AIM 50

810.00p
   
  • Change Today:
      10.00p
  • 52 Week High: 900.00
  • 52 Week Low: 670.00
  • Currency: UK Pounds
  • Shares Issued: 53.16m
  • Volume: 37,714
  • Market Cap: £430.59m
  • RiskGrade: 143

MP Evans' increase in production fails to boost profits

By Duncan Ferris

Date: Monday 17 Sep 2018

LONDON (ShareCast) - (Sharecast News) - Indonesian palm oil producer MP Evans on Monday reported that its half-year profits decreased despite a 27% increase in production to 91,900 tonnes.
For the six months ended 30 June, the firm's operating profit decreased by 39% to $10.1m after a 10% drop in the average price of crude palm oil to $663 per tonne and a $4.1m loss attributable to unrealised foreign currency exchange.

Peter Hadsley-Chaplin, chairman of MP Evans, said: "With crops 27% higher in the first half of 2018 than last year, the Group is visibly delivering the expected growth in crops as its young plantings mature and its hectarage continues to increase."

Hadsley-Chaplin added that the firm had reduced production costs but still had not managed to offset the reduction in oil prices.

Due to 2017's $68m disposal of the Agro Muko joint venture, MP Evans total profit fell from $82.4m over the period last year to $5.8m.

The AIM traded firm's cash and cash equivalents stood at $35.1m at 30 June, down from $148.5m last year, while the interim dividend remained at 5.00p per share.

A statement from MP Evans said that the increasing maturity of its newer projects alongside good progress on planting in South Sumatra provides the basis for considerable future crop growth and rising revenue, even without the acquisition of any further hectarage.

The firm now plans to increase the 81% of its production that is certified sustainable palm oil as it constructs its own mills and works with third-party smallholders, setting its sights on certifying all production other than its Simnang Kiri site by the end of 2023.

MP Evans' shares were down 0.26% at 754.00p at 1229 BST.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MPE Market Data

Currency UK Pounds
Share Price 810.00p
Change Today 10.00p
% Change 1.25 %
52 Week High 900.00
52 Week Low 670.00
Volume 37,714
Shares Issued 53.16m
Market Cap £430.59m
RiskGrade 143

MPE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
93.78% above the market average93.78% above the market average93.78% above the market average93.78% above the market average93.78% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
0.46% above the market average0.46% above the market average0.46% above the market average0.46% above the market average0.46% above the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average
Income
82.60% above the market average82.60% above the market average82.60% above the market average82.60% above the market average82.60% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average
Growth
55.49% below the market average55.49% below the market average55.49% below the market average55.49% below the market average55.49% below the market average
36% below the sector average36% below the sector average36% below the sector average36% below the sector average36% below the sector average

MPE Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-24 12-Oct-23
Paid 19-Jun-24 03-Nov-23
Amount 32.50p 12.50p

Trades for 28-Mar-2024

Time Volume / Share Price
16:08 3,812 @ 810.00p
17:01 3,643 @ 811.41p
16:35 408 @ 810.00p
16:35 1 @ 810.00p
16:35 67 @ 810.00p

MPE Key Personnel

CEO Matthew Coulson
CFO Luke Alexander

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