Camellia PLC
27 March 2008
Camellia Plc
Interim Management Statement
27 March 2008
For Immediate Release
Interim Management Statement
This statement is made in accordance with Rule 4.3 of the UK Listing Authority's
Disclosure and Transparency Rules and covers the period from 1 January 2008.
The majority of the group's operations have made a satisfactory start to 2008.
There are however external factors that have affected some of our operations
during the period under review although it is not expected that any of these
matters will have a material impact on the group's financial performance.
Agriculture and Horticulture
Kenya has suffered a prolonged drought. The disturbances in Kenya following the
elections in December 2007 are to be regretted. It is hoped that the recent
agreement between the two opposing factions will provide a peaceful solution to
the problems. The group suffered only minor damage and there were no injuries to
staff or their families during the period of increased tension. Production was
not significantly affected by the unrest, but continues to be impacted by the
drought.
India has also encountered dry weather conditions and decreased crops.
Generally tea prices have been stronger than the previous year. High tea prices
in Kenya at the beginning of the year have recently moderated.
The weakness of the US dollar will impact on the earnings of our operations in
particular in Kenya and Chile.
Production costs have increased on account of higher energy and fertiliser
prices.
UK Operations
The recent falls in global stock market values will inevitably lead to
reductions in Duncan Lawrie Limited's investment management income. Costs will
also be higher due to the integration of the three operating subsidiaries.
Duncan Lawrie Limited is not affected by the current banking crisis and has no
exposure to the sub-prime mortgage market.
Associates
Siegfried Holding AG announced that, with effect from 1 January 2008, it has
signed long term cooperation agreements with Arena Pharmaceuticals. Inc. of San
Diego. Arena has acquired the pharmaceutical final dosage production unit from
Siegfried in Zofingen and Siegfried will act as Arena's outsourcing partner for
active pharmaceutical ingredients.
Camellia Plc will announce its results for the year ended 31 December 2007 on 24
April 2008.
For further enquiries please contact Camellia Plc
Malcolm Perkins, Chairman
01622 746655
27 March 2008
This information is provided by RNS
The company news service from the London Stock Exchange
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