On 14 March 2018, Mackay Sugar released an operational update on its website.
- The pre-season harvest management preparation program is ahead of schedule
- The initial desktop crop estimate is 4.9 to 5.0m tonnes in the Mackay region. This is lower than previous early estimates of around 5.25m tonnes. The 2017 season yielded approximately 5m tonnes
- On Mackay operations, “overall maintenance works are tracking slightly under target although the most critical work is still on track”
- At Mossman, the company states that favourable weather conditions support an improvement on the 2017 crop of 1.1m tonnes. The factory maintenance program is on track
- On incentive schemes, the Board has approved the Plant Loan Scheme, Secure the Future and Lease Subsidy Scheme for 2018
Read our March update for Mackay Sugar, in which we reiterate our outlook and recommendation on its 7.25% notes due 2019. Read the Mackay Sugar research compendium report*
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Director - Credit Research, Industrials and Corporates. Will has over 15 years’ experience in credit and fixed income markets, including 6 in London, working at fund managers, banks and government treasury.