Hardman & Co Research
Hardman & Co Research: R.E.A. Holdings (RE.): Weak commodity prices dampen
road to recovery
28-Oct-2019 / 14:40 GMT/BST
Hardman & Co Research: Weak commodity prices dampen road to recovery
REA's 1H'19 results showed a small, 3.1%, increase in own-crop production
levels to 335,177mt and a 7.7% increase in CPO production to 96,514mt.
Revenue for the period was up 17.5%, to $56.6m (1H'18: $48.2m), despite a
plunge of more than 20% in the CIF palm oil price compared with 1H'18. The
revenue increase was due partly to the sale of excess inventory carried
forward from the end of 2018. REA continues to focus on improving its oil
extraction efficiency, with an average OER of 22.9% in 1H'19; however,
higher OERs are being achieved in some of the mills in recent months.
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898581 28-Oct-2019
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(END) Dow Jones Newswires
October 28, 2019 10:40 ET (14:40 GMT)
