Business
Final Results
Final Results.
About this update from R.e.a. Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 2905D R.E.A.Hldgs PLC 25 April 2013 \n \n\nR.E.A. HOLDINGS PLC (the \"company\")\n \nANNUAL FINANCIAL REPORT\n \nThe company's annual report for the year ended 31 December 2012 (including notice of the annual general meeting to be held on 11 June 2013) (the \"annual report\") is now available for downloading from the company's web site at www.rea.co.uk.\n \nUpon completion of bulk printing, copies of the annual report will be despatched to persons entitled thereto and will be submitted to the National Storage Mechanism to be made available for inspection at www.hemscott.com/nsm.do. \n \nThe sections below entitled \"Chairman's statement\", \"Risks and uncertainties\" and \"Directors' confirmation of responsibility\" have been extracted without material adjustment from the annual report. The basis of presentation of the financial information set out below is detailed in note 1 of the notes to the financial statements below.\n \nHIGHLIGHTS\n· Crop of fresh fruit bunches of 597,722 tonnes (2011: 607,335 tonnes)\n· Profit before tax of $30.6 million (2011: $64.2 million), after gain on revaluation of biological assets of $6.0 million (2011: $7.4 million) \n· Profit before tax negatively affected by items, expected to be non-recurring, amounting to $19.4 million, comprising village disruptions ($12.3 million) and coal losses ($7.1 million) from suspension of trading and provision against concessions \n· Cash generated by operations amounted to $55.1 million (2011: $59.9 million)\n· Settlement agreements now reached or under discussion with all major villages and level of disruption subsiding\n· Negotiations with villages in next planned development area substantially complete and clearing in this area expected to commence shortly\n· Completion and successful commissioning of third oil mill and second kernel crushing plant ensuring sufficient processing capacity for some time\n· Successful commissioning of two methane capture plants, replacing diesel in the generation of the group's electricity requirements and reducing greenhous...