Summary
The Board of Directors and Management of FirstFarms A/S has today
reviewed and adopted the unaudited half-yearly accounts for the
period January 1 to June 30 2007.
Highlights
In the first half of the year, FirstFarms A/S has achieved a turnover
of DKK 21.9 million, an EBIT result of DKK -4.2 million and a pre-tax
result of DKK 1.2 million, which is DKK 2 million better than
expected.
The company has revised the pre-tax result upwards to DKK 4 million
such that the turnover is expected to be DKK 55-60 million, the
EBIT-result DKK -3 to -5 million and the group's total pre-tax result
DKK 4-6 million.
FirstFarms A/S has supplied a tender to a neighbouring company for
its existing activities in Slovakia. The neighbouring company has at
its disposal one flour mill and 2,000 hectares of leasehold property,
half of which is certified for organic operations.
The building plans in Slovakia is proceeding as planned. The company
is in the final stages of negotiations and construction of the cattle
stables is therefore expected to start in October/November 2007.
The company has established a Rumanian subsidiary company, FirstFarms
s.r.l. and has increased ownership of farming land in Rumania to
1,250 hectares in the so-called "black earth belt", of which the 874
hectares were acquired during the accounting period.
