LONDON (Thomson Financial) - REA Holdings Plc. said its crop of oil palm
fresh fruit bunches (FFB) harvested during the first-half rose to 231,102
tonnes, from 165,000 tonnes in the corresponding period of 2007, and was around
30,000 tonnes ahead of budget.
In a trading update, the company said crude palm oil (CPO) and palm kernel
production for the six months to June 30 rose to 53,770 tonnes and 10,476 tonnes
respectively from 40,700 tonnes and 7,000 tonnes respectively in the previous
year.
REA said at the current level of CPO prices, the group's operating
activities are producing significant positive cash flows.
The company said if these cash flows are maintained, then these coupled with
the cash resources already held could be expected to fund a substantial
proportion, if not all, of the development expenditure currently planned.
However, there can be no certainty it will continue to enjoy revenues from
its CPO sales at current levels, the company added.
TFN.newsdesk@thomson.com
ami/ajb
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