Statement re Queensland Flood

RNS Number : 9066Y

M. P. Evans Group PLC

04 January 2011

 

M.P. EVANS GROUP PLC

Statement regarding flooding in central Queensland

M.P. Evans Group PLC, a producer of Indonesian palm oil and Australian beef cattle, today issues a statement following the widespread media coverage of extreme flooding affecting large areas of Queensland, Australia. The board is pleased to report that this has not adversely affected the Group's property, Woodlands, located in Southern Queensland, which, if anything, will benefit from the above-average rainfall for the time of year. The North Australian Pastoral Co. Pty Limited ("NAPCo") (34.7% of which is held by the Group) has sustained some moderate damage to infrastructure, notably fencing, on two of its seventeen properties. Additionally, NAPCo has lost a small number of cattle - currently estimated at some 200 head from a total herd size of 190,000 head. Furthermore, cattle transfers are likely to be restricted for some weeks in view of damage to roads. Notwithstanding that further flooding may occur, the board is of the view that the principal impact will be limited to disruption of a temporary nature and that the prospects for both NAPCo and Woodlands (the only interests of the Group that could be affected) remain positive for 2011.

4 January 2011

Enquiries:

M. P. Evans	Telephone: [phone]
Peter Hadsley-Chaplin / Philip Fletcher	[e-mail]
Hudson Sandler	Telephone:  [phone]
Charlie Jack / Andrew Hayes	[e-mail]
Panmure Gordon & Co.	Telephone: [phone]
Edward Farmer/Rakesh Sharma	[e-mail]

 

END

 

 

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