Plantation operator Sipef, headquartered in Schoten, Antwerp, reported record financial results last year, supported by performance in its mature plantations and favourable sales prices.
The company operates internationally, with activities in Indonesia, Papua New Guinea, and the Ivory Coast. In addition to palm oil and rubber, Sipef manages banana plantations.
Banana production exceeded 52,000 tons, representing a 2.2 per cent increase compared with the previous year. The higher volumes contributed to overall group performance.
The company reported a profit of US$125 million. The gross dividend increased 115 per cent to US$4.30 per share. The payout ratio will rise from 30 per cent in recent years to 40 per cent.
Sipef is majority-owned by Ackermans & van Haaren, which holds more than 41 per cent of the company's shares.
Source: Belga News Agency
