Camellia

CAM · AIM · Food, Beverage and Tobacco · mcap £142m · 5725.0p

Camellia is a UK-listed group that owns and runs agriculture businesses, mainly tea in India and Bangladesh and avocados, macadamias and crops in Kenya, Malawi, Tanzania and Brazil. It also holds an investment portfolio, property and art assets.

Target	Promise	Said	Status
2024
31 Dec 2024	Wind up Bardsley England, closing all operations by end of 2024 (first said Q2 2024)	4 Jan 2024	✗ Missed · target changed
	“Customer's programmes for the 2023 harvest will be supported with closure of all operations expected in Q2 2024.” Also stated 6 Jun 2024 Result Closure slipped from Q2 2024 to before end of 2024; no later card confirms completion. “Progress has been made in the closure of the Bardsley's operation. We have now exited the two major leases and negotiations with the remaining landlords are ongoing. Asset disposals are also underway and we are on track to conclude the winding up process before the end of the year.”6 Jun 2024 · Trading Update
31 Dec 2024	Complete sale of BF&M shareholding to Argus for $100m, first expected Q1 2024, later latter part of 2024	4 Jan 2024	✓ Kept
	“some key approvals remain outstanding which we now expect in Q2 2024” Also stated 6 Jun 2024 · 28 Jun 2024 Result Sale completed 6 December 2024 for US$100m, after delays from Q1 2024. “the sale of its shares in BF&M Limited to Bermuda Life Insurance Company Limited, a subsidiary of Argus Group Holdings Limited, for a gross consideration of US$100 million completed on 5 December and all funds have been received.”6 Dec 2024 · Disposal
31 Dec 2024	Adjusted loss before tax for 2024 of £10-12m, later narrowed to £7-9m then £4-5m	6 Jun 2024	✗ Missed · target changed
	“we now expect completion in the latter part of 2024” Result Guidance was revised to £7-9m in October and £4-5m in January 2025; trading loss was £5.5m. “Adjusted losses for 2024 are forecast in the range of £4-5 million, down from the previous £7-9 million.”30 Jan 2025 · Trading Update “Adjusted operating loss before tax \| (£4.8m) \| (£9.1m)”30 Apr 2025 · Final Results
2025
19 May 2025	Announce the Value Enhancement Plan (medium-term review outcome) by 19 May 2025	30 Apr 2025	✓ Kept
	“details of its Value Enhancement Plan ('VEP'), focussed on improving operating results, growth areas, and capital allocation priorities, will be announced on Monday, 19 May 2025” Also stated 8 May 2025 Result VEP and £18.9m tender offer announced on 19 May 2025. “Camellia announces its Value Enhancement Plan ('VEP'), designed to generate value and sustainable profitability for the benefit of shareholders and all stakeholders.”19 May 2025 · Value Enhancement Plan “Camellia is also, separately, today announcing a proposed tender offer of up to 350,000 shares at £54.00 per share, totalling £18.9 million (the 'Tender Offer').”19 May 2025 · Value Enhancement Plan
Today · 14 Oct 2026
2026
31 Dec 2026	Plant 118Ha of 400Ha Brazil citrus in 2026, starting early Q4	3 Sep 2026	… In progress
	“Planting of the new citrus operation is set to commence in early Q4 with plans to complete 118Ha of a total of 400Ha in 2026” Status so far Not yet due.
2027
31 Dec 2027	Complete a 650Ha fully irrigated avocado operation in Tanzania by end of 2027	3 Sep 2026	… In progress
	“completing a 650Ha fully irrigated avocado operation by the end of 2027” Status so far Not yet due.
2034
31 Dec 2034	Mgagao avocado farm to generate about £17.0m revenue per annum by 2034	5 May 2026	… In progress
	“Avocado production on this farm will grow exponentially in the coming years generating revenues of c. £17.0 million p.a. by 2034” Status so far Not yet due.
2035
31 Dec 2035	Four growth projects with £15m committed capex targeting c.£35m additional annual revenue by 2035	19 May 2025	… In progress
	“total capex of £15 million* committed to four growth projects over the next 5 years targeting c £35 million of additional annual revenue by 2035” Also stated 5 May 2026 · 3 Sep 2026 Status so far Not yet due.