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R.E.A. Holdings' pre-tax profits up 27%

By BFN News | 02:16 PM | Friday 27 April, 2012

R.E.A. Holdings pre-tax profits rose 27% to $64.2m in the year to the end of December while revenues were up 30% at $148m. The company said the greater level of coal sales achieved in 2011 ($18.2m against $4.2m in 2010) was a significant factor in the increased revenue. Other factors were the higher average selling prices for crude palm oil and crude palm kernel oil and increased CPO and CPKO output. But it said changes to export duty introduced in August meant that revenues from CPO and CPKO in the last quarter of the year were some $21 per tonne less than they would otherwise have been. Higher cost of sales, amounting to $68.1m in 2011 against $48.6m in the preceding year, also reflected the expansion of the coal activities and the increased CPO and CPKO output, while local cost inflation was a continuing factor. At 2:16pm: (LON:RE.) R.E.A. Holdings share price was +0.25p at 704.75p Story provided by

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