DekelOil sees H1 EBITDA materially ahead on improved production

DekelOil Public Ltd said it expects to book first-half EBITDA materially higher than the previous-same-period's €2.2m, citing a strong operational performance in the six-month period.

"In addition, the recent strengthening of the euro against GBP sterling is expected to have a positive impact on DekelOil's results, which are reported in euros," the company said.

DekelOil is operator and 85.75% owner of the profitable and vertically integrated Ayenouan palm oil project in Côte d'Ivoire.

In the half year to end-June, production of crude palm oil was up 30.75% to 28,550 tonnes.

Output of palm kernel oil and palm kernel cake at the firm's new kernel-crushing plant, which began operations in November 2015, was 1,998 tonnes and 2,360 tonnes respectively in the half.

At 12:45 BST, shares in DekelOil were down 6.73% to 12.12p.