Asian Citrus Holdings Ltd Summer Orange Crop (9811C)
March 24 2014 - 3:30AM
UK Regulatory
TIDMACHL
RNS Number : 9811C
Asian Citrus Holdings Ltd
24 March 2014
For immediate release 24 March 2014
Asian Citrus Holdings Limited
("Asian Citrus" or "the Company")
Summer Orange Crop
Asian Citrus announces that the Group (the Company together with
its subsidiaries) has concluded negotiations on the pricing with
customers for the forthcoming summer orange crop.
As of the date of this announcement, the Group has signed
supplier agreements to supply a total of 57,000 tonnes of summer
oranges in the first half of 2014, which is comparable with the
production output of 57,367 tonnes achieved in the same period last
year. The production yield from Hepu Plantation has yet to return
to volumes reported prior to the citrus canker infection reported
last year.
Based on the current information, the selling prices to
supermarkets and wholesalers for summer orange crop are broadly
flat, with a marginal decrease of approximately 1.0% and 1.3%
respectively.
The Board believes that the production volumes and selling
prices of the summer orange crop, in addition to those key factors
affecting the financial performance of the Group as previously
announced on 29 January 2014 and more recently updated in the
interim results for the six months ended 31 December 2013 announced
on 26 February 2014, will continue to influence the performance of
the Group's agricultural produce operations.
For further enquiries please contact:
Asian Citrus
Mark Ng, Chief Financial Officer +852 3622 2380
Cantor Fitzgerald Europe (NOMAD and
Broker)
Rick Thompson / David Foreman (Corporate
Finance) +44 (0) 20 7894 7000
Richard Redmayne (Corporate Broking)
Weber Shandwick Financial +44 (0) 020 7067 0000
Nick Oborne, Stephanie Badjonat
This information is provided by RNS
The company news service from the London Stock Exchange
END
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