18/04/2012 (StockMarketWire.com) - MP Evans reports that Group profit for the year amounted to US$39.70 million, a 62% increase over 2010's US$24.45 million.

The producer of Indonesian palm oil and Australian beef cattle, reveals that Palm-oil prices were on a downward trend for most of 2011, albeit still at historically-high levels, but there has been a sharp upturn in the first part of 2012 to the current level of around US$1,175 per tonne.

With weather concerns in South America affecting sentiment in respect of soybean oil, competition for land between corn and soybeans in the US and an upturn in demand for vegetable oils, price prospects in the short term appear to be encouraging.

F.f.b. crops have made a good start in 2012, with 66,500 tonnes harvested from the majority-owned estates up to 31 March 2012, a 20% increase over the same period last year. The Group remains on track to produce 300,000 tonnes of f.f.b. in 2012. The new mill is performing well and additional sales value is being captured.

Cattle prices have eased from the higher levels seen in 2011, but nonetheless remain at historically-firm levels. Growing demand in Asia and the continuing decline of the US cattle herd would indicate that the medium-to-long-term outlook for Australian beef-cattle markets remains positive.

Earnings per share increased by 61% to US cents 66.39 (2010 US cents 41.17)

The Final dividend for the year increased to 5.75 pence per share (2010 - 5.50 pence)- 2.25 pence interim already paid (2010 - 2.00 pence).