The M.P. Evans Group board is recommending an interim dividend for 2024 of 15p per share (2023 - 12.5p per share), an increase of 20%. This reflects the improved results for the first half of the year, with earnings per share up by 81%, but also the board's continuing confidence in the long-term prospects for the Group.
Other financial highlights include:
5% increase in total crop processed to 759,700 tonnes (2023 - 721,100 tonnes)
6% increase in total production of crude palm oil to 177,000 tonnes (2023 - 166,200 tonnes)
2% increase in mill-gate CPO price to US$771 per tonne (2023 US$755 per tonne)
24% increase in certified sustainable production to 119,500 tonnes (2023 - 96,500 tonnes)
14% reduction in cost of Group palm product to US$458 per tonne (2023 US$535 per tonne)
78% increase in operating profit to US$41.6 million (2023 US$23.4 million)
81% increase in earnings per share to 44.9p (2023 - 24.8p)
1% net gearing with net debt US$7.3 million (2023 net cash US$2.5 million)
