INVL Baltic Farmland
Unaudited results of INVL Baltic Farmland for 6 months of 2019
Unaudited consolidated net profit of the INVL Baltic Farmland group amounted to EUR 137 thousand for 6 months of 2019 and the revenue was EUR 302 thousand (for 6 months of 2018 consolidated net profit was EUR 140 thousand, revenue was EUR 281 thousand).
INVL Baltic Farmland, a company that invests in agricultural land, in the first half of this year had revenue of EUR 302 thousand and a consolidated net profit of EUR 137 thousand. Compared to the same period last year, the company’s revenue grew 7.5%, while its net profit decreased 2.1%.
INVL Baltic Farmland’s equity at the end of June this year was EUR 12.4 million, or EUR 3.85 per share. Equity per share increased 9.4% from a year earlier, also taking into account dividends that were paid out.
“Despite the challenges that the agricultural sector is facing this year, we continue to pursue the objectives that have been set as well as effective asset management,” said Justė Gumovskienė, the director of INVL Farmland Management, which is the administrator of INVL Baltic Farmland’s land.
As regards the company’s operating forecasts for this year, which assume no change in the value of the company’s land holdings, no land purchase or sale transactions, and no changes in provisions for receivables, INVL Baltic Farmland’s January-June revenue was 46.5% of the full-year forecast (EUR 650 thousand), while net profit was 34.7 per cent of the amount forecast for the year (EUR 395 thousand). Excluding the effect of provisions for receivables in the reporting period, the net profit figure would be 47.3% of the forecast full-year amount.
INVL Baltic Farmland is listed on the Nasdaq Vilnius stock exchange. Its subsidiaries own almost 3 thousand hectares of agricultural land in Lithuania which is rented out to agriculture companies and farmers.
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