Business
Interim Results for six months ended 30 June 2023
Interim Results for six months ended 30 June 2023.
About this update from Aep Plantations Plc
[{"type":"text","content":"\n\nAnglo-Eastern Plantations Plc\n(\"AEP\", \"Group\" or \"Company\")\n \nAnnouncement of interim results for the six months ended 30 June 2023\n \nThe group, comprising Anglo-Eastern Plantations Plc and its subsidiaries (the \"Group\"), is a major producer of palm oil and rubber with plantations across Indonesia and Malaysia, has today released its results for the six months ended 30 June 2023.\n \nFinancial Highlights\n \n\n\n\nContinuing operations\n\n\n2023\n6 months\nto 30 June\n$m\n(unaudited)\n\n\n \n\n\n2022\n6 months\nto 30 June\n$m\n(unaudited)\n\n\n\n\n\n2022\n12 months\nto 31 December\n$m\n(audited)\n\n\n\n\nRevenue\n\n\n173.4\n\n\n\n\n\n249.2\n\n\n\n\n\n447.6\n\n\n\n\nProfit before tax\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n - before biological assets (\"BA\") movement\n\n\n32.2\n\n\n\n\n\n94.8\n\n\n\n\n\n138.7\n\n\n\n\n - after BA movement\n\n\n32.5\n\n\n\n\n\n89.5\n\n\n\n\n\n132.9\n\n\n\n\n \nBasic Earnings per ordinary share (\"EPS\")\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n - before BA movement\n\n\n50.27cts\n\n\n\n\n\n153.51cts\n\n\n\n\n\n221.86cts\n\n\n\n\n - after BA movement\n\n\n50.73cts\n\n\n\n\n\n144.73cts\n\n\n\n\n\n212.34cts\n\n\n\n \n \nEnquiries:\n \n\n\n\nAnglo-Eastern Plantations Plc\n\n\n\n\n\n\n\nDato' John Lim Ewe Chuan \n\n\n +44 (0)20 7216 4621\n\n\n\n\n\n\n\n\n\n\n\n\nPanmure Gordon (UK) Limited\n\n\n\n\n\n\n\nDominic Morley / Amrit Mahbubani\n\n\n+44 (0)20 7886 2500\n\n\n\n \n \n \nChairman's Interim Statement\n \nThe interim results for the Group for the six months to 30 June 2023 are as follows:\n \nRevenue from continuing operations for the six months to 30 June 2023 was $173.4 million, 30% lower than $249.2 million reported for the same period of 2022. The Group's gross profit from continuing operations was $33.2 million compared to $90.3 million for the first six months of 2022. Overall profit before tax, after biological assets (\"BA\") movement, from continuing operations for the first half of 2023 was 64% lower at $32.5 million against $89.5 million for the corresponding period in 2022. There was no reversal of impairment losses for the first half of 2023 compared to a net reversal of impairment losses of $0.2 million for the first half of 2022. The ...