Business
Preliminary announcement of results
Preliminary announcement of results.
About this update from Aep Plantations Plc
[{"type":"text","content":"\n \nRNS Number : 9706W Anglo-Eastern Plantations PLC 24 April 2019 \n\nAnglo-Eastern Plantations Plc\n(\"AEP\", \"Group\" or \"Company\")\n \nPreliminary announcement of results for year ended 31 December 2018\n \nThe group comprising Anglo-Eastern Plantations Plc and its subsidiaries (the \"Group\"), a major producer of palm oil and rubber with plantations across Indonesia and Malaysia amounting to some 128,200 hectares, has today released its results for the year ended 31 December 2018.\n \nFinancial Highlights\n \n\n\n\n\n\n\n2018\n$m\n\n\n2017\n$m\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue\n\n\n250.9\n\n\n291.9\n\n\n\n\nProfit before tax: \n\n\n\n\n\n\n\n\n\n\n- before biological asset (\"BA\") movement\n\n\n33.2\n\n\n70.0\n\n\n\n\n- after BA movement\n\n\n30.9\n\n\n69.7\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBasic Earnings per ordinary share (\"EPS\"): \n\n\n\n\n\n\n\n\n\n\n - before BA movement\n\n\n32.50cts\n\n\n91.80cts\n\n\n\n\n - after BA movement\n\n\n28.79cts\n\n\n91.37cts\n\n\n\n\nDividend (cents)\n\n\n3.0cts\n\n\n4.0cts\n\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\n\n\n+44 (0)20 7886 2954\n\n\n\n \n \n \nChairman's Statement\n \nThe Group's fresh fruit bunches (\"FFB\") production in 2018 was 1.04 million mt, 11.9% higher than the previous year of 929,600mt. The crop production in the Riau region continued to outperform in good weather conditions. An improvement in the evacuation of FFB in Bengkulu together with a higher yield from maturing trees in Kalimantan also contributed to a better harvest. The throughput at the six mills reached an all-time high in 2018 as the Group purchased more external crops in addition to a higher internal production. FFB bought-in from surrounding smallholders was 1.01 million mt, 1% more than 2017 of 998,400mt. The Tasik Raja mill purchased 17% more outside crops as recent replanting exercise has reduced its own internal crops. The mills, as a result, processed 6% more FFB and increased the crude palm oil (\"CPO\") production by 7% to 418,800 mt (2017: 390,600mt).\n \nAlthough the Group achieved higher CPO production during...