LONDON (ShareCast) - (ShareCast News) - Shares in Dekeloil jumped 10% on Monday morning, as the palm oil development group said its production in the first half of the year reached record levels.
In the six months to 30 June, the group said production reached 21,836 tonnes of crude palm oil and 3,733 tonnes of kernels, up from 7,932 tonnes of palm oil and 1,311 kernels in the first half of 2014, while palm oil production rose 53% year-on-year.

The sharp hike in production drove revenue up from €4.5m to €12.9m, while earnings before interest, taxation, depreciation and amortisation jumped from €0.3m to €2.3m and the annual pre-tax loss shrank from €0.76m to €86,000.

The company, the operator and 51%-owner of the Ayenouan palm oil project in Ivory Coast, added it aims to increase sales and profits by working on the kernel crushing plant at the site, which is set to be completed in the fourth quarter.

Dekeloil expects like-for-like crude palm oil production volumes to increase even further in the second half of the year, with production set to rise in 2016.

Dekeloil shares were up 10.00% to 1.10p at 1133 BST on Monday.

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