AEP Plantations Plc (LON:AEP), which owns, operates and develops plantations in Indonesia and Malaysia, has announced its unaudited results for the six months ended 30 June 2026.
Highlights
· On 4 May 2026, the Group completed the $158.3 million acquisition of Pinago in South Sumatera, Indonesia, adding 14,300 hectares of mature plantation.
· Group revenue increased by 8.3% to $249.7 million and profit before tax by 5.1% to $65.8 million, including a $9.1 million non-recurring gain arising from the Pinago acquisition
· The average ex-mill CPO price was $853/mt (-1.2%) and palm kernel price was $793/mt (+7.4%).
· The Group maintained cash and cash equivalents of $109.5 million and bank borrowings of $13.2 million, following the Pinago acquisition.
· Board intention to declare an interim dividend by the end of the third quarter of this year.
· $25.9 million returned to shareholders through dividends and share buybacks during the period.
AEP Chairman, Jonathan Law, commented:
“I am pleased to report a strong set of results for AEP, with revenue up 8.3% and profit before tax up 5.1%, reflecting our Pinago acquisition completed in May.
We expect the production trend to improve in the second half of the year, and with CPO prices likely to remain elevated in the coming months, the Board is optimistic that the Group will deliver a robust performance in the second half of the year.”
