Camellia Plc – Trading update – post employment benefits

The Board is pleased to announce that following consultation, the Government of Bangladesh has declared the tea industry to be exempt from legislation which requires companies to make a payment on retirement to employees, on the basis that the tea industry already makes such payments under industry specific legislation.   The consequence of this is that a provision for post employment benefits which amounted to £8.2 million (Tk 921.7 million) at 31 October 2018 can now be released.  This will increase profit before tax for 2018 by this amount.