For 9 months of 2016, the unaudited consolidated net profit of the AB INVL Baltic Farmland group and the part of profit attributable to the shareholders of AB INVL Baltic Farmland was EUR 257 thousand and the revenue was EUR 387 thousand (for 9 months of 2015 consolidated net profit was EUR 270 thousand, revenue was EUR 339 thousand).
Additional information:
INVL Baltic Farmland, a company that invests in agricultural land, had revenue of EUR 387 thousand in nine months of this year and earned a net profit of EUR 257 thousand. Compared with the same period last year, the company’s revenue increased by 14.2 per cent, while net profit decreased by 4.8 per cent.
Revenue in the first three quarters of the year was 73 per cent of INVL Baltic Farmland’s plan for all of 2016 (EUR 530,000). Net profit was 85.7 per cent of the full-year plan (EUR 300,000). The forecasts for 2016 were prepared on the assumption that the value of the company’s agricultural land holdings will not change this year and there will be no land purchase or sale transactions.
“These are positive results, in line with the plans we set out for this year. Looking forward, we continue to focus on concluding long-term land rent agreements,” said Kristina Urbonienė, the director of INVL Farmland Management, which is the administrator of INVL Baltic Farmland’s land.
INVL Baltic Farmland is listed on the Nasdaq Vilnius exchange. Its subsidiaries manage 3,000 hectares of agricultural land in Lithuania which is rented out to agriculture companies and farmers. The company allocated dividends of EUR 217 thousand for 2015, or EUR 0.066 per share.
The person authorized to provide additional information:
Egle Surpliene
Director
E-mail: [email protected]
