Camellia to post break-even results, appoints development director
Camellia PLC on Monday said it expects to announce approximate break-even results for last year thanks to improved trading performances despite broadly stable production figures.
The holding company for agriculture businesses in Bangladesh, Brazil, India, Kenya, Malawi, South Africa and Tanzania, growing tea, avocado, macadamias and other produce said the outcome is expected despite poorer production figures in Kenya and India, as better crop values and yields elsewhere added to early contributions from the company’s efficiency drive which began last year.
The results would mark an improvement from a £5.5 million loss it recorded in 2024, and will be announced in May.
Camellia will also provide strategic updates on the progress of its value enhancement plan, meant to cut reliance on tea, investing in water resilience and automation, and abandoning some non-core assets.
It also said it has appointed Simon Morgan as director of corporate development, a non-board role related to the investment part of the VEP, and announced it ‘notes’ the announcement of a memorandum of understanding in connection to the proposed sale of the Barnesbeg tea estate by Goodricke Group Ltd, a 74%-owned Indian subsidiary.
Camellia shares were down 1.4% to 4,922.40 pence each on Monday morning in London.
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