Camellia : Annual Report & Accounts 2020

CAMELLIA PLC

2020 Report Annual     Plc Camellia

2020

133

CAMELLIA PLC

REPORT AND ACCOUNTS 2020

CONTENTS

page

Camellia at a glance	2
Directors and advisers	4
Chairman's statement	5
Operational report	6
Financial report	13
Environmental and social report	16
Strategic report	22
Report of the Directors	31
Corporate governance	35
Statement of Directors' responsibilities	40
Remuneration report	41
Consolidated income statement	43
Statement of comprehensive income	44
Consolidated balance sheet	45
Company balance sheet	46
Consolidated cash flow statement	47
Company cash flow statement	48
Statement of changes in equity	49
Accounting policies	50
Notes to the accounts	64
Report of the independent auditors	117
Five year record	130

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CAMELLIA PLC

CAMELLIA AT A GLANCE

Camellia Plc is an international Group - a global family of diverse companies with a 133-year history employing approximately 76,000 people worldwide. Our operations are in Agriculture, Engineering, Food Service and Investments. From the start, Camellia's ethos has been based on the highest moral and professional integrity, and a commitment to doing the right thing - ethically and commercially, globally and locally.

Our business is built on two fundamental principles:

• Long-termism. We are custodians, holding our business in trust for future generations. We have a responsibility to promote the stability, security and continuity of all our businesses, so they can be passed on to the next generation as enduring operations. We recognise that people and businesses take time to establish and grow to their full potential. We are committed to improving the long-term stability and well-being of our businesses, the communities and the environments in which
  we operate.
• Sustainability. We are committed not only to the welfare of our employees but also to the communities in which they live. Our businesses can and should grow with respect and care for the environment rather than at a cost to it. We proactively invest in ensuring that the places where we operate are protected and improved, and seek to minimise the impact of our business on
  the environment.

The Segment trading profit and loss information set out below, including details of underlying profit is extracted from note 1 on page 64 of the Accounts.

Our business is made up as follows:

AGRICULTURE

2020: Revenue - £247.2 million, Segment underlying trading profit - £18.3 million, Segment trading profit - £2.2 million

		Mature	Immature
		Area	Area
Core crops	Locations	Ha	Ha
Tea	India, Bangladesh, Kenya, Malawi	33,354	2,936
Macadamia	Kenya, Malawi, South Africa,	2,802	896
Avocados	Kenya	532	373
Speciality crops
Arable	Brazil	3,616	-
Forestry	Kenya, Malawi, Brazil	2,344	3,533
Rubber	Bangladesh	1,610	365
Wine grapes	South Africa	66	18
Blueberries	Kenya	-	10
Other
Joint Projects	Kenya	836
Livestock	Kenya	4,529 head

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CAMELLIA PLC

CAMELLIA AT A GLANCE

ENGINEERING

2020: Revenue - £19.3 million, Segment trading loss - £1.5 million

Subsidiary	Locations
Abbey Metal Finishing and Atfin	UK, Germany
AJT Engineering	UK

FOOD SERVICE

2020: Revenue - £23.6 million, Segment trading loss - £1.7 million

Subsidiary	Locations
ACS&T	UK
Jing Tea	UK

INVESTMENTS

		Market value at
		31/12/20
Investment type	Locations	£'m
Investment Portfolio	Global	50.6
Investment Property	UK, Malawi, Brazil	23.9
Collections	UK, India	9.8*

* Collections are stated at cost

ASSOCIATES

2020: Share of results after taxation - £6.1 million

			Holding
	Location	Activity	%
BF&M	Bermuda	Life and Non-life insurance	37.6
United Finance	Bangladesh	Banking	38.4
United Insurance	Bangladesh	Non-life insurance	37.0

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CAMELLIA PLC

DIRECTORS AND ADVISERS

Directors	Malcolm Perkins	Chairman (iii)
	Chris Relleen	Deputy Chairman, independent non-executive
		Director and senior independent Director (i) (ii) (iii)
	Tom Franks	Chief Executive
	Graham Mclean	Director of Agriculture
	Susan Walker	Chief Financial Officer
	Jonathon Bond	Independent non-executive Director (iv)
	Gautam Dalal	Independent non-executive Director (i)
	William Gibson	Independent non-executive Director (i) (ii) (iii) (iv)
	Simon Turner	Non-executive Director
	Frédéric Vuilleumier	Independent non-executive Director
	(i) Audit committee
	(ii) Remuneration committee
	(iii) Nomination committee
	(iv) Safeguarding and Stewardship committee
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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