M. P. Evans Group (MPE)

Sector:

Food

Index:

FTSE AIM 50

874.00p
   
  • Change Today:
      26.00p
  • 52 Week High: 882.11
  • 52 Week Low: 670.00
  • Currency: UK Pounds
  • Shares Issued: 52.98m
  • Volume: 40,889
  • Market Cap: £463.04m
  • RiskGrade: 143

MP Evans completes buy of two Indonesian palm oil firms

By Josh White

Date: Monday 27 Nov 2023

LONDON (ShareCast) - (Sharecast News) - Indonesian palm oil producer MP Evans announced the completed acquisition of two Indonesian companies, PT Agro Bumi Kaltim (ABK) and PT Nusantara Agro Sentosa (NAS), on Monday.
The AIM-traded firm said both ABK and NAS possessed oil palm plantations in East Kalimantan, overseeing a combined planted area of 8,350 hectares.

Out of that total, 6,664 hectares were under the direct ownership of the group, while an additional 1,686 hectares were managed on behalf of associated smallholder co-operatives.

Most of the planted area consisted of young palms, with around 90% of them planted between 2017 and 2019.

MP Evans anticipated a rise in yields from the young areas as the palms matured.

The board said the acquisition was finalised for $59.4m, equivalent to $8,900 per hectare owned by the group.

Upon completion, an additional amount of around $4.3m had been allocated for working capital.

The group said it would disburse a total cash payment of $41.6m, comprising $36.1m for the entire share capital of the acquired companies and $5.5m to settle shareholder loans.

Furthermore, the group would take on bank loans denominated in Indonesian rupiah from the acquired companies, amounting to an additional $22.1m.

The group said its financial position post-acquisition remained strong, enabling it to explore further growth opportunities in the future.

"The completion of the ABK and NAS acquisition is an important step forward in the group's continuing growth and development," said chairman Peter Hadsley-Chaplin.

"Realising our strategic objective to increase the scale of operations close to our Kota Bangun project will enable the group to enhance operational efficiencies there.

"The group now has over 65,000 hectares under management, and we expect to continue to increase output and achieve future growth, supporting the group's ambition to deliver progressive returns."

At 1145 GMT, shares in MP Evans Group were up 1.75% at 767.2p.

Reporting by Josh White for Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:


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 874.00p
Change Today 26.00p
% Change 3.07 %
52 Week High 882.11
52 Week Low 670.00
Volume 40,889
Shares Issued 52.98m
Market Cap £463.04m
RiskGrade 143

MPE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
86.83% above the market average86.83% above the market average86.83% above the market average86.83% above the market average86.83% above the market average
92.59% above the sector average92.59% above the sector average92.59% above the sector average92.59% above the sector average92.59% above the sector average
Price Trend
45.38% above the market average45.38% above the market average45.38% above the market average45.38% above the market average45.38% above the market average
21.43% above the sector average21.43% above the sector average21.43% above the sector average21.43% above the sector average21.43% above the sector average
Income
81.77% above the market average81.77% above the market average81.77% above the market average81.77% above the market average81.77% above the market average
85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average
Growth
52.71% below the market average52.71% below the market average52.71% below the market average52.71% below the market average52.71% below the market average
3.7% below the sector average3.7% below the sector average3.7% below the sector average3.7% below the sector average3.7% below 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
  Final Interim
Ex-Div 25-Apr-24 12-Oct-23
Paid 19-Jun-24 03-Nov-23
Amount 32.50p 12.50p

Trades for 18-Jun-2024

Time Volume / Share Price
17:12 248 @ 873.56p
16:37 1,108 @ 874.00p
16:35 3,275 @ 874.00p
16:35 45 @ 874.00p
16:35 1 @ 874.00p

MPE Key Personnel

CEO Matthew Coulson
CFO Luke Alexander

Top of Page