Anglo-Eastern Reports Higher Profits Amidst Replanting

Anglo Eastern Plantations (GB:AEP) has released an update.

Anglo-Eastern Plantations PLC reported a slight decrease in revenue to $166.7 million for the first half of 2024, a 4% decline from the previous year, yet saw a profit before tax increase of 8.6% to $35.3 million, attributed to lower fertilizer costs and increased biological asset values. Despite a 5% drop in fresh fruit bunch production due to older trees and replanting efforts, profit after tax rose by 15.8% to $27.9 million. The company remains debt-free with strong cash reserves, although net assets and cash equivalents saw a decrease due to currency translation losses and operational investments.

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