MPE has reported excellent results for the year ending December 2018. Operationally there was strong growth with total crop increasing 27% y-o-y to 829,100 tons (1% ahead of our expectations) while CPO-equivalent production increased 25% y-o-y to 192,500 tons (inline with our expectations). With costs of production lower than our expectations, EBIT and PBT were well ahead of our expectations. Going forward, the plantations seem to be well on track but unfortunately the CPO price remains weak.
02 Apr 2019
M.P. Evans - Strategy bearing fruit: Excellent FY2018 results
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M.P. Evans - Strategy bearing fruit: Excellent FY2018 results
M.P. Evans Group PLC (MPE:LON) | 858 103 1.4% | Mkt Cap: 455.3m
- Published:
02 Apr 2019 -
Author:
Cavendish Research -
Pages:
17
MPE has reported excellent results for the year ending December 2018. Operationally there was strong growth with total crop increasing 27% y-o-y to 829,100 tons (1% ahead of our expectations) while CPO-equivalent production increased 25% y-o-y to 192,500 tons (inline with our expectations). With costs of production lower than our expectations, EBIT and PBT were well ahead of our expectations. Going forward, the plantations seem to be well on track but unfortunately the CPO price remains weak.