Business
Trading statement and deferral of preference di...
Trading statement and deferral of preference di....
About this update from R.e.a. Holdings Plc
[{"type":"text","content":"\n \nR.E.A. Holdings plc (RE.)R.E.A. Holdings plc: Trading statement and deferral of preference dividend05-Jun-2019 / 10:14 GMT/BSTDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.\n\nR.E.A. Holdings plc (\"REA\" or the \"company\") \n\n \n\nKey agricultural statistics for the year to 31 May 2019 (with comparative figures for 2018) were as follows: \n\n\n  \n \n \n 2019\n \n \n 2018\n \n \n FFB crops (tonnes):\n \n \n  \n \n \n  \n \n \n Group harvested\n \n \n 275,000\n \n \n 260,000\n \n \n Third party harvested\n \n \n 78,000\n \n \n 63,000\n \n \n Total\n \n \n 353,000\n \n \n 323,000\n \n \n  \n \n \n  \n \n \n  \n \n \n Production (tonnes):\n \n \n  \n \n \n  \n \n \n Total FFB processed\n \n \n 346,000\n \n \n 318,000\n \n \n CPO\n \n \n 79,300\n \n \n 72,700\n \n \n Palm kernels\n \n \n 15,400\n \n \n 15,200\n \n \n CPKO\n \n \n 4,500\n \n \n 5,900\n \n \n  \n \n \n  \n \n \n  \n \n \n Extraction rates (percentage):\n \n \n  \n \n \n  \n \n \n CPO\n \n \n 22.9\n \n \n 22.9\n \n \n Palm kernel\n \n \n 4.5\n \n \n 4.8\n \n \n CPKO*\n \n \n 40.0\n \n \n 40.3\n \n \n  \n \n \n  \n \n \n  \n \n \n Rainfall (mm):\n \n \n  \n \n \n  \n \n \n Average across the estates\n \n \n 1,664\n \n \n 1,542\n \n  \n\n* Based on kernels processed\n\n \n\nAs noted in the annual report of the group for the year ended 31 December 2018, which was published on 29 April 2019, the production recovery that began in 2017 and continued through 2018, is being maintained. Group FFB production is up 6 per cent for the first five months compared with the same period in 2018. \n\n \n\nMonthly phasing of crops varies from year to year but fruit set for the forthcoming months is encouraging and supports the view that production for the year overall will be comfortably ahead of 2018 with a budgeted FFB crop of some 900,000 tonnes.  Continuing focus on evacuation and processing is beginning to show results with a significant improvement in CPO extraction rates in May to 23.4 per cent (against the average for the year to-date, as shown a...