Largest ever contract | Seemingly in-line | Palm oil profits
While most of the stock market is currently preoccupied with space, back on terra firma, a producer of sustainable Indonesian palm oil has announced a good start to the year, bringing yet another upgrade and resumption of its share buyback. With the shares having fallen back following previous news of proposed government changes, this high yielding company looks in great shape. Elsewhere, seemingly in-line results from an AI solutions company brought a big sell-off in its shares – we know why the market was unsettled. Read on here for more on this and other news, including a big contract win for a company supporting the defence sector and the sale of artwork highlighting an extraordinary situation.
Camellia: sale of artwork highlights extraordinary situation Our earlier commentary here highlighted the multitude of activities being carried out by Camellia (AIM:CAM). These included tea plantations (it’s the largest privately owned tea producer in the world), macadamia nuts, avocados, vineyards, rubber, engineering, insurance, property (including a large stately home), artwork and manuscripts! Camellia has now announced the sale of a “substantial part” (not all!) of its remaining South Asian art collection, bringing in net proceeds of a staggering £14.0m. To put that into context, it represents around 10% of the Group’s current market capitalisation! Recent months have seen the disposal…