MP Evans processed crops volumes increase, crude production rises
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M. P. Evans Group
860.00p
16:40 03/07/24
Palm oil producer MP Evans said on Friday that both processed crops and crude production had risen across the first five months of the year.
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MP Evans said processed crops increased by 8% to 631,400 tonnes of fresh fruit bunches, principally due to increased yields from majority-owned areas, associated scheme smallholders, and independent suppliers.
The AIM-listed group also delivered a 10% improvement in crude palm oil to 147,500 tonnes, while its oil extraction rate increased to 23.4% from 23.0%. Average crude palm oil prices were $997.00 per tonne, broadly flat when compared to $1,001.00 in 2023.
MP Evans also proposed an increased total dividend of 45.0p per share for FY23, as the firm intends to continue its long-term trend to increase, or at least maintain, dividends for shareholders.
As of 0920 BST, MP Evans shares were up 0.48% at 844.0p.
Reporting by Iain Gilbert at Sharecast.com