Camellia PLC (CAM) - Revised Interim Management Statement
RNS Number : 6769P
26 October 2012
Interim Management Statement
26 October 2012
This statement is made in accordance with Rule 4.3 of the UK Listing
Authority's Disclosure and Transparency Rules and covers the period from 1
July 2012 to 26 October 2012.
The interim report issued on 30 August 2012 has been posted to shareholders
and includes a statement from the Chairman. That report, which can be viewed
on the company's website (www.camellia.plc.uk), refers to a number of issues
that would otherwise be reported in this interim management statement.
Tea production has seen a slight improvement in the Dooars region of India
with more favourable weather conditions during August. However, tea production
in Assam and the Dooars regions is lower than last year. Overall, prices are
slightly ahead of the same period last year. Tea production in Bangladesh has
resulted in yields higher than last year. Prices are higher at local auction
as demand for better quality tea increases.
Lower rainfall during the early part of the growing season has impacted tea
production in Kenya and Malawi. Prices are higher than last year, although
they have softened in recent weeks. Avocado volumes are in line with the
The sale of 50.5% of the Siret Tea Company by Kakuzi to the Sirret Outgrowers
Empowerment Company (SOEC) has been completed. SOEC now owns 100% of the
Siret Tea Company.
The UK operations continue to show mixed fortunes in the difficult economic
climate in the UK and Europe. Activity at GU Cutting and Grinding in Stockport
has increased with the award of a major contract for water jet cutting and
grinding. The new facility at Hinkley for Abbey Metal Finishing is now fully
operational but the uptake of orders has been slower than hoped for as
aerospace customers complete qualification audits of the new facility. Cold
storage utilisation at ACS&T has increased as the industry consolidates.
The increase in marketing activity by Duncan Lawrie has led to a widening of
the client base.
Further enquiries please contact Camellia Plc
This information is provided by RNS
The company news service from the London Stock Exchange
IMSPGGBAUUPPGWQ -0- Oct/26/2012 14:09 GMT
Press spacebar to pause and continue. Press esc to stop.