Agriculture, Estonia, Good for Business, Investments, Markets and Companies

Photo: lindanektar.ee

PRIA granted Linda Nektar 166,800 euros of investment support in the framework of a program for improving the processing and marketing of agricultural products targeted at micro and small enterprises.

The sum has no direct effect on the company's income but will reduce the ultimate cost of the investment program, Linda Nektar told the stock exchange. The launch of the program was one of the reasons why the company raised capital and listed its shares on the stock exchange.

Linda Nektar initiated in the first half of this year an investment program to expand and automate production and implement its aroma recovery technology. During the first half of the year the company invested 194,200 euros in fixed assets, it appears from its interim report.

Manager Kadri Rauba told BNS in May that Linda Nektar hopes to expand into a new area of business – aroma production – within this year. "We are currently dealing with development of aroma production, the prototype is ready and we hope to bring it to the market by the end of the year," she said.

The company ended last year with 2.7 million euros in sales and a net profit of 324,000 euros, and paid a dividend of 262,000 euros. A year earlier its sales revenue amounted to 3.7 million euros, net profit was 737,000 euros and the dividend totaled 307,000 euros.

Shares of Linda Nektar began to be traded on the alternative market First North at the end of May. Admitted to trading are all shares, 1,575,109 in all. Investors in the private placement prior to listing took up 146,429 shares at a subscription price of 5.60 euros per share. The share closed at 7.50 euros on Monday.