M.P. Evans Reports 78% Profit Surge, Boosts Dividend Amid Strong Palm Oil Production

Proactive - Interviews for investors

M.P. Evans Group CEO Matthew Coulson joined Steve Darling from Proactive to share the company's unaudited interim results for the first half of 2024, ending June 30. The company saw a 5% increase in total crop processed, totaling 759,700 tonnes, and a 6% rise in crude palm oil production, reaching 177,000 tonnes. Coulson told Proactive this contributed to a significant 78% increase in operating profit to $41.6 million. The positive performance allowed the company to announce a 20% increase in the interim dividend. Additionally, Coulson highlighted the strengthening of palm-oil prices in the second half of 2024 and a 14% reduction in palm product costs to $458 per tonne, down from $535 per tonne in 2023. Looking ahead, Coulson stressed the company’s focus on continued growth and sustainability in both planting and acquisition. #proactiveinvestors #m.p.evansgroupplc #lse #mpe #palmoil #halfyearly #MatthewCoulson #InterimResults2024 #SustainableProduction #OperatingProfit #DividendGrowth #PalmOilIndustry #AgricultureInvestment #Acquisitions #ShareholderReturns #ProactiveInvestors#invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews