Never miss an issue of Master Investor Magazine – sign-up now for free!
AIM-listed Camellia (LON:CAM) has said that volumes at its agricultural operations will be at or near record highs as a result of favourable weather conditions and significant past investment. Prices have been volatile with strong tea and macadamia prices and substantial falls in the price of avocados. At this point, management believe that profits before tax for the year are likely to be significantly above market expectations.
The company also said that it would be acquiring two new tea gardens in Assam and the purchase contracts for new orchards in Tanzania have been signed.
Shares in Camellia rose by 4.93% to 9,800p.