Asian Citrus Holdings Ltd Summer Orange Harvest (1103I)
28 June 2013 - 7:00PM
UK Regulatory
TIDMACHL
RNS Number : 1103I
Asian Citrus Holdings Ltd
28 June 2013
For immediate release 28 June 2013
Asian Citrus Holdings Limited
("Asian Citrus" or "the Group")
Summer ORANGE HARVEST
Asian Citrus, the largest orange producer, plantation owner and
tropical fruit juice producer in China, announces that the latest
production volume of its Summer Orange crop at its Hepu Plantation
was 57,367 tonnes, broadly in-line with management expectations for
the summer production of 58,600 tonnes as indicated in the Summer
Crop Update announced on 28 March 2013.
As previously stated on 28 March 2013 the decrease in production
volume is due largely to the effect on the Hepu plantation of the
unstable weather conditions experienced during 2012 which led to an
extensive infection of citrus canker, a latent infection amongst
orange and other citrus crops which is for the most part
controllable in normal weather conditions but to which such crops
are at much higher risk during periods of heavy rainfall and
typhoons, such as those experienced in 2012. The infection resulted
in a significant volume of premature fruit drop in the summer
crop.
As previously highlighted, the Board considers the effect of
this citrus canker infection to be limited to the current year's
summer crop and anticipates that production volumes from Hepu
Plantation will return in the next financial year to volumes akin
to previously reported levels, subject to normal weather
conditions.
The total annual production volume for the Group decreased in
line with management expectations, from approximately 243,421
tonnes to about 218,600 tonnes in the current year which represents
a decrease of approximately 10.2%.
The full year results of the Group for the year ending 30 June
2013 are expected to be published in September 2013.
For further enquiries please contact
Asian Citrus
Tony Tong / Tommy Tong, Executive
Director +852 2559 0323
Cantor Fitzgerald Europe (NOMAD and
Joint Broker)
Rick Thompson / Tom Sheldon (Corporate
Finance) +44 (0) 20 7894 7000
Richard Redmayne (Corporate Broking)
Liberum Capital Limited (Joint Broker)
Clayton Bush / Richard Bootle +44 (0) 20 3100 2222
Weber Shandwick Financial
Nick Oborne, Stephanie Badjonat,
John Moriarty +44 (0) 20 7067 0700
This information is provided by RNS
The company news service from the London Stock Exchange
END
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