- Interim pre-tax profit more than trebles to $54.2m (excluding $3.95m biological asset movement credit).
- Fresh Fruit Bunches production up 15 per cent to 586,500 tonnes.
- Bought in crops increase 37 per cent to 583,400 tonnes.
- Crude Palm Oil (CPO) price averages $1,122 per metric tonne (mt) in first half, up from $648 per mt in the first half of 2020.
Anglo-Eastern Plantations (AEP:650p), a producer of crude palm oil (CPO) and rubber from 16 plantations spread across 74,131 hectares in Indonesia and Malaysia, has delivered first half pre-tax profits that exceed the whole of last year.
Buoyed by a 73 per cent year-on-year increase in the CPO price (ex-Rotterdam), 15 per cent higher production due to better weather conditions, and increased mature acreage, group revenue of $201m was almost two-thirds higher in the six-month period. Anglo’s ex-mill CPO prices increased by 28 per cent to average $701 per tonne, the discount to ex-Rotterdam prices reflects logistic costs that buyers are required to pay, Indonesian CPO tax and levy. Anglo also benefited from hot rubber prices, which were almost 50 per cent higher year-on-year.