M. P. Evans Group (MPE)

Sector:

Food

Index:

FTSE AIM 50

664.00p
   
  • Change Today:
      16.00p
  • 52 Week High: 722.00
  • 52 Week Low: 612.00
  • Currency: UK Pounds
  • Shares Issued: 54.54m
  • Volume: 16,981
  • Market Cap: £362.13m
  • RiskGrade: 115

MP Evans' increase in production fails to boost profits

By Duncan Ferris

Date: Monday 17 Sep 2018

LONDON (ShareCast) - (Sharecast News) - Indonesian palm oil producer MP Evans on Monday reported that its half-year profits decreased despite a 27% increase in production to 91,900 tonnes.
For the six months ended 30 June, the firm's operating profit decreased by 39% to $10.1m after a 10% drop in the average price of crude palm oil to $663 per tonne and a $4.1m loss attributable to unrealised foreign currency exchange.

Peter Hadsley-Chaplin, chairman of MP Evans, said: "With crops 27% higher in the first half of 2018 than last year, the Group is visibly delivering the expected growth in crops as its young plantings mature and its hectarage continues to increase."

Hadsley-Chaplin added that the firm had reduced production costs but still had not managed to offset the reduction in oil prices.

Due to 2017's $68m disposal of the Agro Muko joint venture, MP Evans total profit fell from $82.4m over the period last year to $5.8m.

The AIM traded firm's cash and cash equivalents stood at $35.1m at 30 June, down from $148.5m last year, while the interim dividend remained at 5.00p per share.

A statement from MP Evans said that the increasing maturity of its newer projects alongside good progress on planting in South Sumatra provides the basis for considerable future crop growth and rising revenue, even without the acquisition of any further hectarage.

The firm now plans to increase the 81% of its production that is certified sustainable palm oil as it constructs its own mills and works with third-party smallholders, setting its sights on certifying all production other than its Simnang Kiri site by the end of 2023.

MP Evans' shares were down 0.26% at 754.00p at 1229 BST.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

MPE Market Data

Currency UK Pounds
Share Price 664.00p
Change Today 16.00p
% Change 2.47 %
52 Week High 722.00
52 Week Low 612.00
Volume 16,981
Shares Issued 54.54m
Market Cap £362.13m
RiskGrade 115

MPE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
63.37% below the market average63.37% below the market average63.37% below the market average63.37% below the market average63.37% below the market average
44.83% below the sector average44.83% below the sector average44.83% below the sector average44.83% below the sector average44.83% below the sector average
Price Trend
32.16% below the market average32.16% below the market average32.16% below the market average32.16% below the market average32.16% below the market average
20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% above the sector average20.00% above the sector average
Income
93.71% below the market average93.71% below the market average93.71% below the market average93.71% below the market average93.71% below the market average
76.47% below the sector average76.47% below the sector average76.47% below the sector average76.47% below the sector average76.47% below the sector average
Growth
14.62% below the market average14.62% below the market average14.62% below the market average14.62% below the market average14.62% below the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
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MPE Dividends

  Latest Previous
  Interim Final
Ex-Div 17-Oct-19 18-Apr-19
Paid 01-Nov-19 21-Jun-19
Amount 5.00p 12.75p

Trades for 23-Oct-2019

Time Volume / Share Price
11:15 5,000 @ 664.00p
10:49 1 @ 670.00p
10:49 4,999 @ 670.00p
10:41 2,856 @ 664.00p
10:41 568 @ 660.00p

MPE Key Personnel

CEO Tristan Robert Julian Price

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