M. P. Evans Group (MPE)

Sector:

Food

Index:

FTSE AIM 50

842.00p
   
  • Change Today:
    -8.00p
  • 52 Week High: 1,085.00
  • 52 Week Low: 784.00
  • Currency: UK Pounds
  • Shares Issued: 54.42m
  • Volume: 26,988
  • Market Cap: £458.22m
  • RiskGrade: 143

MP Evans sees 'little effect' to trading from Covid-19 pandemic

By Iain Gilbert

Date: Thursday 10 Jun 2021

LONDON (ShareCast) - (Sharecast News) - Palm oil producer MP Evans said on Thursday that Covid-19 continued to be of "little effect" to operations, with all of its estates and mills harvesting and processing throughout the coronavirus pandemic.
MP stated that its controlled crop of fresh fruit bunches for the five months ended 31 May came to 342,100 tonnes, roughly 24% higher year-on-year.

Crops from smallholder co-operatives associated with its new projects also increased - up by 43% to 100,800 tonnes as overall, MP Evans' crops continued on "an upward trend" as a result of the young average age of its plantations.

The AIM-listed group produced the equivalent of 132,400 tonnes of crude palm oil during the first five months of 2021, up 25% year-on-year, including 104,800 tonnes in its own mills with the balance being the oil content of fresh fruit bunches sold by the firm to third-party mills.

MP also noted that the average price of crude palm oil over the first five months of the year was $1,127 per tonne, substantially higher than the $659 per tonne during the equivalent period in 2020. However, the introduction of an Indonesian export levy in December 2020 meant that the increase was only reflected to "a limited extent" in the price actually received by the firm at mill gate.

Nonetheless, in the period to the end 31 May, MP realised an average price at mill gate of $715 per tonne, compared with $550 per tonne in 2020, an increase of 30%.

"Milling capacity enables the group to maximise the margin it obtains by processing its own and scheme-smallholder crop, in addition to providing it with the opportunity to purchase additional crop from independent smallholders. The increasing maturity of its planted areas and the application of high operating standards means the board is confident in its ability to deliver crop growth which is the foundation for improving results and a rising dividend. In light of the strong performance achieved to date, it remains the board's intention to recommend a dividend of 30p per share in respect of 2021," concluded MP Evans.

As of 0925 BST, MP Evans shares were up 2.46% at 750.0p.

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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 842.00p
Change Today -8.00p
% Change -0.94 %
52 Week High 1,085.00
52 Week Low 784.00
Volume 26,988
Shares Issued 54.42m
Market Cap £458.22m
RiskGrade 143

MPE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
68.69% above the market average68.69% above the market average68.69% above the market average68.69% above the market average68.69% above the market average
86.21% above the sector average86.21% above the sector average86.21% above the sector average86.21% above the sector average86.21% above the sector average
Price Trend
40.89% above the market average40.89% above the market average40.89% above the market average40.89% above the market average40.89% above the market average
24.14% above the sector average24.14% above the sector average24.14% above the sector average24.14% above the sector average24.14% above the sector average
Income
79.07% above the market average79.07% above the market average79.07% above the market average79.07% above the market average79.07% 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
Growth
95.43% above the market average95.43% above the market average95.43% above the market average95.43% above the market average95.43% 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

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MPE Dividends

  Latest Previous
  Interim Final
Ex-Div 13-Oct-22 28-Apr-22
Paid 04-Nov-22 17-Jun-22
Amount 12.50p 25.00p

Trades for 07-Oct-2022

Time Volume / Share Price
15:55 5,000 @ 847.00p
16:35 287 @ 842.00p
16:28 4 @ 836.00p
16:28 25 @ 836.00p
16:27 193 @ 840.00p

MPE Key Personnel

CEO Matthew Coulson

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