Camellia (GB:CAM) has released an update.
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Camellia PLC faces challenges with global tea production due to adverse weather in India and oversupply in Kenya, leading to lower prices and demand that also affect Malawi’s market. Despite this, the company predicts higher revenue compared to 2023 but expects a larger adjusted loss before tax for continuing operations. Additionally, the complex sale of their BF&M interest to Argus Group is delayed, now anticipated for the latter part of 2024, with a net cash recovery from the Bardsley closure.
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