In August, we downgraded our FY2017 forecasts as the CPO price did not appear to be recovering as we expected this year. Only one month later we find ourselves in the surprising position of upgrading FY2017 forecasts, albeit for totally different reasons. Interim results have highlighted an unexpected development: following the construction of a new mill at Bangka in 2016, management have managed to find considerably more FFB from outside providers to optimise loading of the mill while the as
18 Sep 2017
Good operational management results in a FY2017 upgrade
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Good operational management results in a FY2017 upgrade
M.P. Evans Group PLC (MPE:LON) | 826 0 0.0% | Mkt Cap: 438.2m
- Published:
18 Sep 2017 -
Author:
Cavendish Research -
Pages:
8
In August, we downgraded our FY2017 forecasts as the CPO price did not appear to be recovering as we expected this year. Only one month later we find ourselves in the surprising position of upgrading FY2017 forecasts, albeit for totally different reasons. Interim results have highlighted an unexpected development: following the construction of a new mill at Bangka in 2016, management have managed to find considerably more FFB from outside providers to optimise loading of the mill while the as