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REA encouraged by profit increase

By BFN News | 09:22 AM | Wednesday 24 August, 2011

REA. Holdings has published its half yearly report for 2011 showing profit before tax of $36,870,000 (2010: $20,056,000) due principally to an increase in revenue of $25,174,000 partly offset by an increased cost of sales of $9,343,000 A further ordinary dividend of 3p per share is to be paid on 30 September 2011 as a final dividend in respect of 2010, rather than, as would previously have been the case, as a first interim dividend in respect of 2011. The directors currently intend a first interim dividend in respect of 2011 be paid in January 2012 at the rate of 3p per share Sales of traded coal totalling 118,000 tonnes (2010: nil). A further 110,000 tonnes sold in July and August. The group remains on target to reach average monthly sales of 100,000 tonnes by the end of 2011 The overall increase in revenue was the combined result of the group's increased production of crude palm oil and crude palm kernel oil, in addition to the growing volume of coal sales. At 9:22am: (LON:RE.) R.E.A. Holdings share price was +40.25p at 577.75p Story provided by

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