M.P. Evans Group (MPE) H1 2025 earnings summary

Executive summary

• Group-managed harvest increased 9% to 619,100 tonnes in H1 2025, with a 39% reduction in independent crop purchases, maintaining similar total CPO production levels.

• Revenue rose 10% to $179.4 million, driven by higher CPO and PK prices.

• Gross profit increased 51% to $63.4 million, operating profit rose 50% to $62.2 million, and EPS climbed 60% to 71.7p.

• Interim dividend per share increased 20% to 18p, continuing a long record of maintained or increased dividends.

• Net cash position improved to $70.5 million from net debt of $7.3 million a year earlier, supporting future growth and acquisitions.

Financial highlights

• Revenue: $179.4 million (H1 2025), up 10% from $163.7 million in H1 2024.

• Gross profit: $63.4 million, up 51% from $42.1 million; gross margin improved to 35% from 26%.

• Operating profit reached $62.2 million, up from $41.6 million; profit for the period was $49.6 million, a 56% increase.

• EPS: 71.7p, up from 44.9p; interim dividend: 18p, up from 15p.

• Net funds: $70.5 million, reversing net debt of $7.3 million in H1 2024.

Outlook and guidance

• Strong crop and pricing trends have continued into the second half, with robust CPO and PK prices and ongoing crop growth from new plantings and acquisitions.

• Peak crop expected later in 2025; management anticipates further crop increases and strong margins.

• Integration of the newly acquired 3,000 hectares is progressing well and expected to enhance earnings.