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Friday, 19.04.2024, 21:04
Profit of Latvia’s LVM state forest manager reaches EUR 60.195 mln H1
BC, Riga, 21.08.2018.
Print version
Print versionTurnover of Latvijas Valsts Mezi (LVM) state forest manager in the first six months of this year was EUR 157.067 mln, up 16.1% from the respective period last year, while the company’s profit increased by 75.1% to EUR 60.195 mln, according to the company’s report.
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In the first six months of 2018 LVM total revenue reached
EUR 157.571 mln. Revenue from sale of timber reached EUR 149.1 mln. Sales of
round timber increased by EUR 19.6 mln compared from the respective period last
year.
In the first six months of this year LVM sold 46 mln
seedlings.
Also, the company invested EUR 15.4 mln in development,
including EUR 11.8 mln invested in forest infrastructure, roads, melioration
systems, construction of bridges.
As reported, in the first six months of last year LVM posted
EUR 135.252 mln in sales and earned EUR 34.371 mln in profit.
The Agriculture Ministry holds 100% of LVM shares on behalf
of the Latvian state.
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