Trading Update

RNS Number : 8469X

Asian Plantations Limited

16 January 2014

 



16 January 2014

Asian Plantations Ltd

("Asian Plantations" or the "Company")

Trading Update

The Directors of Asian Plantations Ltd, a palm oil plantation company with operations in Malaysia, are pleased to announce a general trading update.

In the calendar year 2013, the Company achieved the following headline sales:

·      26,584 tonnes of crude palm oil ("CPO") for RM 62,795,466, which represents an average price per tonne of RM 2,362 (or approximately USD 750 per tonne using an average USD/RM exchange rate for 2013 of 3.15);

·      5,604 tonnes of palm kernel nuts ("PK") for RM 7,620,350, which represents an average price per tonne of RM 1,360 (or approximately USD 431 using the average exchange rate for 2013 as above); and,

·      12,949 tonnes of fresh fruit bunches ("FFB") for RM 4,986,516, which represents an average price per tonne of RM 385 (or approximately USD 124 using the average exchange rate for 2013 as above).

Total FFB, either sold or processed by the Company, was 141,555 tonnes, of which 30,256 tonnes was produced on the Company's estates and the remainder sourced from 3^rd party estates.

The Company will provide an update on planting progress when the latest GPS data, expected by early March 2014, becomes available.

All other operating activity remains in line with the Board's expectations.

Graeme Brown, Joint CEO, commented:

 "We are very pleased to have met our expectations for sales of CPO and PK, as forecast in the Company's interim results, in our first year of milling operations. We believe that the outlook for the CPO price in 2014 is promising and anticipate that this will further drive the Company's revenues over the coming year."

 - ENDS -

For further information contact:

Asian Plantations Limited Graeme Brown, Co-Founder & Joint Chief Executive Officer Dennis Melka, Co-Founder & Joint Chief Executive Officer	Tel:  [phone]
Strand Hanson Limited James Harris James Spinney James Bellman	Tel: [phone]
Macquarie Capital (Europe) Limited Steve Baldwin Dan Iacopetti	Tel:   [phone]
Panmure Gordon (UK) Limited Tom Nicholson Callum Stewart	Tel:   [phone] Tel: [phone]
Bankside Consultants Simon Rothschild	Tel: [phone]

 

END

 

 

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