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 - 30 September 2011.
FirstFarms maintains the expectations
- FirstFarms has in the accounting period realised a turnover of DKK 91.0 million, an EBIT result of DKK 13.9 million and a pre-tax result of DKK 9.4 million. The results are significantly above the expectations, as both realised yields and prices on crops have been above the assumed.
- In the first three quarters, the milk price has corresponded to the expectations and this is also expected in Q4.
- The milk production has in the first three quarters been significantly lower than assumed. As mentioned in the company announcement for Q2, the company has decided to close old and uneconomic stables. Moreover, the milk production per cow is below the expected in Q3, and therefore the total milk production for the year is expected to be significantly lower.
- In the light of the above, FirstFarms maintains the ranges of the expectations of a turnover of DKK 125-130 million, and EBIT result of DKK 17-22 million and a pre-tax result of DKK 10-15 million.
Billund, 23 November 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.
