CAMELLIA PLC CAMELLIA PLC
2021 Report Annual Plc Camellia
2021
134
CAMELLIA PLC
REPORT AND ACCOUNTS 2021
CONTENTS | page |
Camellia at a glance | 2 |
Directors and advisers | 4 |
Chairman's statement | 5 |
Operational report | 7 |
Financial report | 16 |
Environmental and social report | 19 |
Strategic report | 25 |
Report of the Directors | 35 |
Corporate governance | 39 |
Statement of Directors' responsibilities | 44 |
Remuneration report | 45 |
Consolidated income statement | 47 |
Statement of comprehensive income | 48 |
Consolidated balance sheet | 49 |
Company balance sheet | 50 |
Consolidated cash flow statement | 51 |
Company cash flow statement | 52 |
Statement of changes in equity | 53 |
Accounting policies | 54 |
Notes to the accounts | 70 |
Report of the independent auditors | 125 |
Five year record | 139 |
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CAMELLIA PLC
CAMELLIA AT A GLANCE
We are an international Group - a global family of companies focussed on agriculture across the world. Headquartered in the UK we are passionate about our produce, our communities and sustainable agriculture worldwide.
We grow healthy life-enhancing products for a world hungry for ethically produced natural food.
Our purpose
We are committed to doing the right thing: ethically and commercially, globally and locally. We invest for the long-term:
- Delivering performance for investors - but not at the expense of sustainability long-term
- Treating our customers and suppliers fairly
- Acting as a custodian of our agricultural resources
- Being a responsible and forward-thinking employer
- Behaving as a good citizen in the countries in which we operate
Sustainability
Our businesses can and should grow with respect and care for the environment and the communities in which we operate rather than at a cost to them. We invest in innovative technology and cutting-edge agricultural practices to ensure that these environments and communities are protected and enhanced.
Innovation
Research into, and development of, agricultural techniques and technology allows us to continually improve efficiency and sustainability within our operations. Innovation is not only a driving force for improved profitability but also a powerful tool to reduce our environmental impact and benefit our communities.
Long-termism
We see ourselves as custodians, holding our business in trust for future generations. We have a responsibility to ensure the growth and continuity of all our businesses.
Economic contribution
Each of our operations plays a significant role in its local economy, infrastructure and community. Our contribution includes employee wages and benefits, smallholder crop procurement, training in agronomic practices, contracting local service providers, capital investment, taxes, community projects and exports.
2
CAMELLIA PLC
CAMELLIA AT A GLANCE
Our business is made up as follows:
Agriculture
2021: Revenue - £238.8 million, adjusted trading profit* £13.1 million, trading profit £13.2 million
Mature | Immature | ||
Tea | Area | Area | |
Locations | Ha | Ha | |
Production & Manufacturing | India, Bangladesh, Kenya, Malawi | 34,097 | 2,485 |
Instant Tea, Branded Tea & | |||
Tea Rooms | India, UK | ||
Nuts & fruits | |||
Macadamia | Kenya, Malawi, South Africa | 2,906 | 786 |
Avocado | Kenya, Tanzania | 623 | 377 |
Apple, Pear, Blueberry, Plum, | |||
Cherry, Apricot, Grapes | UK, Kenya, South Africa | 798 | 103 |
Other agriculture | |||
Forestry | Kenya, Malawi, Brazil | 1,981 | 2,685 |
Arable | Brazil | 3,888 | - |
Rubber | Bangladesh | 1,822 | 153 |
Livestock | Kenya | 4,332 head |
Other investments
Food Service and Engineering
2021: Revenue - £37.3 million, adjusted trading loss* £2.3 million, trading loss £2.3 million
Locations | |||
AJT Engineering | UK | ||
ACS&T | UK | ||
Market value | |||
at 31/12/2021 | |||
Investments | Locations | £'m | |
Investment Portfolio | Global | 40.2 | |
Investment Property | UK, Malawi, Brazil | 34.4 | |
Collections | UK, India | 8.7** | |
Associates | |||
2021: Share of results after taxation - £7.2 million | |||
Market value | |||
at 31/12/2021 | |||
Locations | Holding % | £'m | |
BF&M (Life & Non-life insurance) | Bermuda | 37.4 | 57.7 |
United Finance (Banking) | Bangladesh | 38.4 | 13.0 |
United Insurance | |||
(Non-life insurance) | Bangladesh | 37.0 | 9.3 |
- Figures quoted above are extracted from note 1 to the Accounts
- Collections are stated at cost
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CAMELLIA PLC
DIRECTORS AND ADVISERS
Directors | Malcolm Perkins | Chairman (iii) (iv) |
Tom Franks | Chief Executive | |
Graham Mclean | Director of Agriculture | |
Susan Walker | Chief Financial Officer | |
Stephen Buckland* | Non-executive Director (i) | |
Gautam Dalal | Independent non-executive Director (i) | |
William Gibson | Senior independent non-executive Director** (i) | |
(ii) (iii) (iv) | ||
Simon Turner | Non-executive Director (ii) (iii) | |
Frédéric Vuilleumier | Independent non-executive Director | |
Chris Relleen*** | Senior independent non-executive Director | |
Jonathan Bond**** | Independent non-executive Director (iv) | |
Rachel English***** | Independent non-executive Director | |
(i) Audit committee | ||
(ii) Remuneration committee | ||
(iii) Nomination committee | ||
(iv) Safeguarding and Stewardship committee | ||
*From 1 November 2021 | ||
**From 11 August 2021 | ||
***Until 5 August 2021 | ||
****Until 3 June 2021 | ||
*****From 6 May 2022 | ||
Group General Counsel | Amarpal Takk (iv) | |
& Company Secretary | ||
Registered office | Linton Park | |
Linton | ||
Maidstone | ||
Kent ME17 4AB | ||
Registered Number | 00029559 | |
Nominated adviser and | Panmure Gordon (UK) Limited | |
broker | One New Change | |
London EC4M 9AF | ||
Registrars | Link Group | |
10th Floor | ||
Central Square | ||
29 Wellington Street | ||
Leeds LS1 4DL | ||
Independent auditors | Deloitte LLP | |
Statutory Auditors | ||
1 New Street Square | ||
London EC4A 3HQ | ||
PR | Maitland/AMO | |
The HKX Building | ||
3 Pancras Square | ||
London N1C 4AG | ||
Website | www.camellia.plc.uk |
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Camellia plc published this content on 31 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2022 06:29:07 UTC.
