M.P. Evans raises its interim dividend as output and earnings grow

M.P. Evans ($MPE) increased its interim dividend to 25 pence per share from 18 pence after a stronger first half. Palm-oil production rose 11% to 192,300 tonnes, while production costs fell 8% to $409 per tonne. The average mill-gate selling price edged up 1% to $873 per tonne, supporting improved profitability.

Gross profit increased 25% to $78.9 million, and earnings per share rose 21% to 86.5 pence. Cash reached $113.5 million, up 61%. The results show that the earnings improvement was supported by higher output and lower unit costs, rather than a large increase in selling prices alone. The dividend is an interim distribution; these figures do not represent a finalized full-year outcome.

Sources:

• M.P. Evans — interim results