Record earnings for Belgian palm oil and banana producer

Plantation operator Sipef achieved record results last year, with shareholders benefiting as the company doubled its dividend.

Sipef, based in Schoten, Antwerp, has operations that extend well beyond Belgium. The century-old company manages palm oil plantations in Indonesia, Papua New Guinea and Ivory Coast, alongside banana and rubber plantations.

The record performance was driven by mature palm oil and banana plantations and favourable sales prices. Palm oil production rose 22 per cent, reaching almost 442,000 tonnes, while more than 52,000 tonnes of bananas were harvested, representing a 2.2 per cent increase.

The result was a record profit of 125 million US dollars. The gross dividend rose 115 per cent to 4.30 per share, and the payout ratio will increase from 30 per cent in recent years to 40 per cent.

Sipef is majority-owned by the holding company Ackermans & van Haaren, which holds over 41 per cent of the shares.

_{#FlandersNewsService | Banana plantation from the Belgian company Sipef on the fourth and last day of a four day diplomatic mission to the Sahel region, Friday 15 February 2013 in Abidjan, Ivory Coast. © BELGA PHOTO DIRK WAEM}

Related news

EU drops broad delay of deforestation law but eases rules for small firms

The European Commission has dropped plans to postpone the introduction of its flagship anti-deforestation law, deciding to maintain the schedule...

belganewsagency.eu

AB InBev reports decline in beer sales

AB InBev, the world’s largest brewer, sold less beer and other beverages last year, according to its annual results reported on Thursday.

belganewsagency.eu