M.P. Evans Group CEO Matthew Coulson joined Steve Darling from Proactive to share the company's unaudited interim results for the first half of 2024, ending June 30. The company saw a 5% increase in total crop processed, totaling 759,700 tonnes, and a 6% rise in crude palm oil production, reaching 177,000 tonnes.
Coulson told Proactive this contributed to a significant 78% increase in operating profit to $41.6 million. The positive performance allowed the company to announce a 20% increase in the interim dividend. Additionally, Coulson highlighted the strengthening of palm-oil prices in the second half of 2024 and a 14% reduction in palm product costs to $458 per tonne, down from $535 per tonne in 2023. Looking ahead, Coulson stressed the company’s focus on continued growth and sustainability in both planting and acquisition.