Source - SMW
DekelOil  produced 7,055 tonnes of CPO volumes in the fourth quarter - a record for the period and 48.9% up on a year ago.

The performance took total CPO production for 2017 to 38,736 tonnes  against 39,111 tonnes in 2016.

The group said the record Q4 production was primarily due to stronger local agriculture conditions.

It said the  strong finish to the year almost entirely offset reduced production due to unscheduled downtime during May and June 2017 when the company's mill was not fully operational due to two separate mechanical issues that had since been rectified.

Executive director Lincoln Moore said: 'Thanks to a record Q4 performance, our 2017 CPO production, at 38,736 tonnes, closely matches last year's total, a highly creditable outcome particularly when the unplanned stoppages at the Mill during May and June are taken into account.  

'The combination of stable production and higher CPO pricing will translate into record full year revenues and profits.  

'Prior to 2017, CPO production at Ayenouan had grown for three consecutive years.  

'We expect 2018 will see a resumption in annual CPO production growth.  

'Our confidence is based not only on DekelOil's growing standing among local smallholders as an established and reliable buyer of fruit, but also the imminent completion of the 25% increase in the Mill's capacity to 75 tonnes per hour from 60 tonnes per hour.  

'Importantly, this will be in place in time for the commencement of the peak harvest season, which typically runs from February until June in Cpte d'Ivoire.'




At 8:13am: (LON:DKL) DekelOil Public Ltd share price was +0.6p at 9.5p