Business
Final Results
Final Results.
About this update from M.p. Evans Group Plc
[{"type":"text","content":"\n\nM.P. EVANS GROUP PLC\n \nFINAL RESULTS 2024\n \nRECORD PROFITS, RECORD DIVIDENDS, AND WELL PLACED FOR INCREASING RETURNS\n \nM.P. Evans Group PLC (\"M.P. Evans\", \"the Group\" or \"the Company\"), a producer of sustainable Indonesian palm oil, announces its results for the year ended 31 December 2024. The Group has achieved record-breaking results for 2024, supported by a year of tight control over operating costs, alongside favourable crude-palm-oil pricing. Revenue, profitability and cash generation are all up substantially on last year. Once again, despite some weather-related challenges seen across Indonesia, the Group was able to process 1.6 million tonnes of crop, almost all in the Group's six efficiently operated palm-oil mills.\n \nThe Group's 2024 annual report is available on its website at www.mpevans.co.uk.\n \nHIGHLIGHTS\n \nFinancial\n \n- Average mill-gate price for Group CPO US$823 per tonne (2023 US$729 per tonne)\n- Revenue for the year US$352.8 million (2023 US$307.4 million)\n- Operating profit US$115.7 million (2023 US$75.3 million)\n- Operating cash generation US$152.6 million (2023 US$103.1 million)\n- Earnings per share 129.6 pence (2023 - 78.1 pence)\n- Dividend for the year 52.5p per share (2023 - 45.0p per share) with proposed final dividend of 37.5p per share (2023 - 32.5p per share)\n \nOperational\n \n- Total crop processed maintained at 1.6 million tonnes\n- Six certified palm-oil mills in operation throughout year processing 96% of total crop\n- Further increase in certified sustainable crude palm oil (\"CPO\"), up to 257,000 (2023 - 233,400 tonnes)\n- Acquisition of minority interest in Group estates during the year increasing effective ownership by 1,700 hectares\n- Planting continuing at Musi Rawas, as total area approaches 11,000 hectares, and planting programme started at recently acquired estate at Kota Bangun\n- Increase in conservation hectarage, particularly mangrove forest at Bumi Mas,...