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 websitewww.firstfarms.com
or contact Managing Director Per Villumsen on telephone +45 75 86 87 87
[HUG#1519136]
