Source - Alliance News

Dekel Agri-Vision PLC - West Africa-based agriculture company - Swings to profit in 2021 on rising palm oil prices. Pretax profit stands at €916,000, swinging from a loss of €2.2 million in 2020. Revenue climbs to €37.4 million from €22.5 million. Besides its palm oil business, Chair Andrew Tillery sees ‘considerable progress towards commencement of production from our cashew operation, our second commodity to enter production and a key part of our short and medium term strategies to increase both the scale and diversity of Dekel.’

Company expects to start paying dividends in the fourth quarter of 2022. Regarding its outlook, firm says: ‘We believe we have entered a period of supportive macro conditions in terms of selling prices of crude palm oil and palm kernel oil.’ On June 13, firm said crude palm oil price per tonne rose by 36% In May compared to May 2021, to €1,056 from €774. That was a slight monthly decrease however from €1,061 per tonne in April 2022.

Current stock price: 3.30 pence, down 1.5% on Thursday

12-month change: down 30%

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