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International Internet Magazine. Baltic States news & analytics Wednesday, 27.05.2020, 06:12

Turnover of Latvian State Forests up 16.5% in first nine months

BC, Riga, 10.12.2018.Print version
Turnover of Latvijas Valsts Mezi (LVM) state forest manager in the first nine months of this year was EUR 241.273 mln, up 16.5 % from the respective period last year, while the company’s profit increased by 70.2% to EUR 84.630 mln, according to the company’s report writes LETA.

In the first six months of 2018 LVM total revenue reached EUR 242.3 mln. Revenue from sale of timber reached EUR 230.8 mln.

In the first nine months of this year LVM sold 47.3 mln seedlings.

Also, the company invested EUR 27.6 mln in development, including EUR 22 mln invested in forest infrastructure, roads, melioration systems, construction of bridges.

As reported, in the first nine months of last year LVM posted EUR 207.165 mln in sales and earned EUR 49.712 mln in profit.

The Agriculture Ministry holds 100 % of LVM shares on behalf of the Latvian state.

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