Following today’s unscheduled trading update, we are increasing our EPS (Dil. Adj.) forecasts for FY24E by 15% to US141c from US122.6c and for FY25E by 7.1% to US133c from US124.1c to reflect the recent strength of the CPO price. The H1 average CPO mill-gate price was 10% higher than our FY24 forecast assumption of US$700 and we increased our mill-gate assumption to US$750/tonne when it reported its interims in mid-September. Since then, the cif Rotterdam CPO price has surged by 25% to a recent ....
