Summary
The Board of Directors and Management of FirstFarms A/S have today reviewed and adopted the un-audited quarterly accounts for the period 1 January - 31 March 2011.
Result in Q1 as expected
- FirstFarms has in the accounting period achieved a turnover of DKK 15.0 million, an EBIT result of DKK -1.0 million and a pre-tax result of DKK -1.9 million. The results correspond to the expectations. Compared to same period last year, the EBIT result is improved with DKK 2.9 million.
- In Q1, the milk price has been on par with the expected but is at present a little higher than expected. The milk production has been increasing in Q1 but is still not on a satisfactory level.
- The prices on grain products and oilseed are at present above the assumed. Approx. 25 percent of the crops have been sold on fixed contracts at prices above the assumed.
- In both Slovakia and Romania, the crops are satisfactory compared to the time of year.
- FirstFarms maintains the announced expectations of a turnover of DKK 125-130 million, an EBIT result of DKK 17-22 million and a pre-tax result of DKK 10-15 million.
Billund, 26 May 2011
FirstFarms A/S
For further information:
Please visit our website www.firstfarms.com
or contact Managing Director Per Villumsen on telephone +45 75 86 87 87
