{"id":1949,"date":"2020-10-23T00:00:00","date_gmt":"2020-10-22T21:00:00","guid":{"rendered":"https:\/\/invlbalticfarmland.com\/press-releases\/invl-baltic-farmland-had-a-net-profit-of-eur-267-000-in-the-first-three-quarters-of-the-year\/"},"modified":"2020-10-23T00:00:00","modified_gmt":"2020-10-22T21:00:00","slug":"invl-baltic-farmland-had-a-net-profit-of-eur-267-000-in-the-first-three-quarters-of-the-year","status":"publish","type":"post","link":"https:\/\/invlbalticfarmland.com\/en\/press-releases\/invl-baltic-farmland-had-a-net-profit-of-eur-267-000-in-the-first-three-quarters-of-the-year\/","title":{"rendered":"INVL Baltic Farmland had a net profit of EUR 267 000 in the first three quarters of the year"},"content":{"rendered":"\n

\tThe company’s equity at the end of September this year was EUR 13.387 million, or EUR 4.15 per share. Equity per share increased 9.25% from a year earlier, also accounting for dividends that were paid out.
\t 
\t“Favourable weather conditions in 2020 led to a bigger grain harvest in Lithuania, so there’s dominant mood of optimism in the agricultural sector. We for our part view the situation in agriculture as stable and continue seeking to ensure the effective management of assets,” said Just\u0117 Gumovskien\u0117, the director of INVL Farmland Management, which is the administrator of INVL Baltic Farmland’s land.
\t 
\tAccording to the operating forecasts for this year, INVL Baltic Farmland plans to get revenue of EUR 652 000 and earn a consolidated net profit of EUR 390 000. The company’s revenue in the first three quarters of the year was 70.6% of the full-year forecast, while its net profit was 68.5% of the amount forecast for the year. Excluding the effect of provisions for receivables in the reporting period, the net profit figure would be 77.7% of the full-year forecast.
\t 
\tThe operating forecasts assume that during this year the value of the company’s land holdings will not change, there will be no land purchase or sale transactions, and there will be no changes in provisions for receivable amounts or impact of tenant debts on the size of the administration fee.
\t 
\tINVL Baltic Farmland is listed on the Nasdaq Vilnius stock exchange. Its subsidiaries own nearly 3 000 hectares of agricultural land in Lithuania which is rented out to agriculture companies and farmers.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company’s equity at the end of September this year was EUR 13.387 million, or EUR 4.15 per share. 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