M. P. Evans Group Plc (MPE.L), a British producer of sustainable Indonesian palm oil, on Tuesday reported that fiscal 2024 profit before tax increased from last year, with growth in revenues. The company further declared higher dividend.
Looking ahead, Peter Hadsley-Chaplin, Chairman, said, "Based on the encouraging start to 2025, the immediate and longer-term prospects, the board remains firmly of the view that sustainable palm oil, as a high-yield and low-cost product, will continue to be in demand and offer attractive returns, and that, as a result, the prospects for the Group remain very positive."
On the London Stock Exchange, M. P. Evans shares were gaining around 6 percent to trade at 1,015.00 pence.
In fiscal 2024, profit before tax climbed to $113.49 million from last year's $72.83 million. Earnings per share from continuing operations grew to 165.1 US cents from 97.2 US cents a year ago.
In pence, basic earnings per share were 129.6 pence, significantly higher than the 78.1 pence recorded in 2023.
Revenue for the year grew to $352.84 million from $307.37 million a year ago.
Further, the board is recommending a final dividend of 37.5p per share, up from last year's 32.5p per share. The total figure of 52.5p per share was 17 percent higher than 45p per share a year ago.
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