CAMELLIA PLC CAMELLIA PLC
Camellia Plc Annual Report 2022
2022
135
CAMELLIA PLC
REPORT AND ACCOUNTS 2022
CONTENTS | page |
Camellia at a glance | 2 |
Directors and advisers | 4 |
Chairman's statement and Operational report | 5 |
Environmental and social report | 16 |
Strategic report | 21 |
Report of the Directors | 32 |
Corporate governance | 36 |
Remuneration report | 41 |
Statement of Directors' responsibilities | 43 |
Consolidated income statement | 44 |
Statement of comprehensive income | 45 |
Consolidated balance sheet | 46 |
Company balance sheet | 47 |
Consolidated cash flow statement | 48 |
Company cash flow statement | 49 |
Statement of changes in equity | 50 |
Accounting policies | 51 |
Notes to the accounts | 68 |
Report of the independent auditors | 124 |
Five year record | 135 |
Appendices | 136 |
1
CAMELLIA PLC
CAMELLIA AT A GLANCE
We are an international Group headquartered in the UK, a global family of companies focused on agriculture, and are passionate about our produce and our communities.
We are committed to doing the right thing: ethically and commercially, globally and locally. We are custodians, operating sustainable businesses in trust for future generations. We seek to improve the long-term stability and wellbeing of these businesses and the communities and environments in which they operate.
We seek to use sustainable agricultural practices to ensure that the environments and communities in which we operate are protected and enhanced. This allows us to continually improve operational efficiency and sustainability which is not only a driving force for enhancing profitability but also a powerful tool to reduce our environmental impact, benefit our communities and support our ultimate ambition to reach net zero.
Purpose and strategy
We aim to generate long-term value for our shareholders and our stakeholders which include our employees, customers, suppliers and local communities in which we operate.
The Group's strategy is to focus on the sustainable production of its core crops (tea, nuts and fruit) whilst continuously assessing opportunities to diversify by both crop and origin.
Execution of this strategy will involve divesting non-agriculture assets as appropriate opportunities arise.
Our business is made up as follows:
Agriculture
2022: Revenue - £283.0 million, trading profit £15.5 million
Mature | Immature | ||
Area | Area | ||
Tea | Locations | Ha | Ha |
Production and Manufacturing | India, Bangladesh, Kenya, Malawi | 34,298 | 2,282 |
Instant tea, branded tea and | |||
tea lounges | India, UK | ||
Nuts and fruits | |||
Macadamia | Kenya, Malawi, South Africa | 3,149 | 630 |
Avocado | Kenya, Tanzania, South Africa | 741 | 509 |
Other fruits | UK, Kenya, South Africa | 539 | 87 |
Other agriculture | |||
Forestry | Kenya, Malawi, Brazil | 2,993 | 2,805 |
Arable | Brazil | 3,779 | - |
Rubber | Bangladesh | 1,790 | 138 |
Livestock (head) | Kenya | 4,246 | |
2
CAMELLIA PLC
CAMELLIA AT A GLANCE
Other investments
Engineering
2022: Revenue - £13.2 million, trading loss £0.8 million
Location | |
AJT Engineering | UK |
Investments
Market value at | ||
31/12/2022 | ||
Locations | £'m | |
Investment Portfolio | Global | 35.6 |
Investment Property | UK, Malawi, Brazil | 25.4 |
Collections (stated at cost) | UK, India | 8.8 |
Associates
2022: Share of results after taxation - £3.1 million loss
Market value | |||
at 31/12/2022 | |||
Locations | Holding % | £'m | |
BF&M (Life and Non-life insurance) | Bermuda | 36.9 | 59.3 |
United Finance (Banking) | Bangladesh | 38.4 | 9.2 |
United Insurance (Non-life insurance) | Bangladesh | 37.0 | 6.1 |
3
CAMELLIA PLC
DIRECTORS AND ADVISERS
Directors | Malcolm Perkins | Chairman and Interim Chief Executive |
Graham Mclean | Director of Agriculture | |
Susan Walker | Chief Financial Officer | |
Stephen Buckland | Non-executive Director | |
Rachel English | Independent non-executive Director | |
Simon Turner | Non-executive Director | |
Frédéric Vuilleumier | Independent non-executive Director | |
Board committee memberships are detailed on pages 32 and 33 | ||
Group General Counsel | Amarpal Takk | |
and Company Secretary | ||
Registered office | Wrotham Place | |
Bull Lane | ||
Wrotham | ||
Near Sevenoaks | ||
Kent TN15 7AE | ||
Registered Number | 00029559 | |
Nominated adviser and | Panmure Gordon (UK) Limited | |
broker | 40 Gracechurch Street | |
London | ||
EC3V 0BT | ||
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 | H Advisors Limited | |
3 Pancras Square | ||
London N1C 4AG | ||
Website | www.camellia.plc.uk |
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Disclaimer
Camellia plc published this content on 04 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 May 2023 09:32:04 UTC.
