Summary
The Board of Directors and Management of FirstFarms A/S have today reviewed and adopted the un-audited interim financial accounts for the period 1 January - 30 June 2017.
Improvement of the result in first half year 2017
-
FirstFarms has in the accounting period realised a turnover of DKK 66.4 million, an EBIT result of DKK 7.8 million and a pre-tax result of DKK 3.2 million. The result is improved with DKK 5.5 million compared to same period last year.
-
In the first half year, the milk price has been a little lower than expected, but significantly higher than last year. The milk production has in the first half year been on expected level.
-
The sales prices on grain and oil seed are in total expected to be on par with the budget.
-
The harvest yields for the autumn crops have been lower and expected due to a dry spring period, especially in Slovakia. Also lower harvest yields are expected for the spring crops. The extent can first be evaluated, when the amount of rain in the remaining growth season is known.
-
The take-over of the pig production in Hungary has contributed with higher EBIT that recognised in FirstFarms' budget.
-
FirstFarms maintains the announced expectations of an EBIT result of DKK 18-22 million.
Best regards,
FirstFarms A/S
For further information:
Please visit our website www.firstfarms.com or
contact CEO Anders H. Nørgaard on telephone +45 75 86 87 87.