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Second half recovery at R.E.A. Holdings

By BFN News | 11:47 AM | Monday 28 April, 2014


R.E.A. Holdings has reported a profit before tax of $25.2m (2012: $30.6m). This represented a recovery in the second half of the year with a profit of $27.8m, following the loss of $2.6m sustained in the first half. Second half results were helped by higher CPO and CPKO prices and a devaluing Indonesian rupiah against the dollar. The issue of 1.6m ordinary shares, issued by way of a placing, raised $10.5m net of expenses. New term loans were signed in November and earlier this month to provide local finance equivalent to $90m for the continuing development of operations. Growing throughput from smallholders is augmenting the revenue stream. At 11:47am: (LON:RE.) R.E.A. Holdings PLC share price was +11.88p at 446.88p Story provided by StockMarketWire.com

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