OREANDA-NEWS. Unaudited consolidated net profit as well as consolidated net profit attributable to shareholders of INVL Baltic Farmland amounted to EUR 177 thousand for 6 months of 2016.

INVL Baltic Farmland, a company that invests in agricultural land, in the first half of this year had revenue of EUR 258 thousand and earned a net profit of EUR 177 thousand. Compared with the same period last year, INVL Baltic Farmland’s revenue increased by 12.2 per cent, while net profit decreased by 14.1 per cent.

Revenue in the first half of the year was 48.7 per cent of the amount planned for the full year (EUR 530,000) and net profit was 59 per cent of INVL Baltic Farmland’s plan for 2016 (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.

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.