Financial Statement Release
SIA "AgroCredit Latvia" unaudited midterm report for 2017
Mārupe, Latvija, 2018-02-28 12:01 CET --
2017 was a year of a stable growth for AgroCredit Latvia. At the end of the season (July) the total credit portfolio exceeded 7 mEUR, which was all time highest result for the company. The total revenue grew by 14% and also the profitability rose significantly.
The accruals for the debtors were raised by 50 tEUR mathing the demand of Accrual making policy of the company.
As the amount of credit resources attracted through bond emmission was raised and more expensive financing replaced, the self-cost of credit resources was decreased. The cooperation with AS Citadele banka was developed as well.
The company plans further balanced growth in 2018. As the autumn seeding was interfered by unfavourable weather conditions it is expected that the spring seeding will be more active than typicaly. So the demand for the financing of the current assets is expected to be high.
Chairman of the board Ģirts Vinters