Anglo-Eastern Plantations warns on tax

15 June 1999

Anglo-Eastern Plantations warns on tax

ANGLO-EASTERN Plantations has warned that Indonesias palm export tax needs to be further reduced if it is to match last years results.

Following elections, a firmer exchange rate has cut local sales and reduced cashflow. From 1 June, the palm export tax had dropped from 40% to 30%. In 1998 pre-tax profits were £5.8m on sales of £8.9m.

• Financial Times 15/06/99 page 26 (News Digest)