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REA Holdings PLC - London-based company engaged in oil palm cultivation in Indonesia, as well as in producing crude palm and palm kernel oil - On Thursday, says revenue in 2023 falls to $176.7 million from $208.8 million. Cost of sales also falls to $142.4 million from $147.8 million. Swings to pretax loss of $29.2 million from profit of $42.0 million. Basic loss per share totals 32.7 US cents compared to EPS of 43.1c. Explains loss follows losses on disposals of subsidiaries and similar charges of $26.0 million. Says CPO prices are firm and are expected to remain at remunerative levels as limited availability of land and increasing regulatory restrictions constrain expansion of oil palm hectarage. Current stock price: 80.00 pence, up 4.9% 12-month change: down 22% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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