REA’s FY’18 results showed a marked recovery in the group’s FFB production, up 50.8% YoY, to a record level of 800,050mt; CPO production increased by over 51%, to 217,721mt. However, revenue was up only 5.2%, to $105.5m ($100.2m); crop growth was strong but results were significantly dampened due to commodity prices, with the palm oil price hitting a 10-year low, at $440/mt, in November 2018. The CPO price suffered a 17% drop to an average $596/mt for 2018, and the PKO price plunged 27.2% for the year. With the PBJ transaction completed, REA is focusing on raising production efficiency and planting out the remaining land bank should funding become available.
18 Jun 2019
Strong production continues; deferred 1H pref. dividend
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Strong production continues; deferred 1H pref. dividend
R.E.A. Holdings plc (RE:LON) | 66.0 0 0.0% | Mkt Cap: 28.9m
- Published:
18 Jun 2019 -
Author:
Yingheng Chen -
Pages:
19
REA’s FY’18 results showed a marked recovery in the group’s FFB production, up 50.8% YoY, to a record level of 800,050mt; CPO production increased by over 51%, to 217,721mt. However, revenue was up only 5.2%, to $105.5m ($100.2m); crop growth was strong but results were significantly dampened due to commodity prices, with the palm oil price hitting a 10-year low, at $440/mt, in November 2018. The CPO price suffered a 17% drop to an average $596/mt for 2018, and the PKO price plunged 27.2% for the year. With the PBJ transaction completed, REA is focusing on raising production efficiency and planting out the remaining land bank should funding become available.