Brief: Linas Agro Group Q2 2014/2015 result swings to loss of 584,000 litas

Akola AB

27/02/2015 08:16

Feb 27 (Reuters) - Linas Agro Group AB  LNA1L.VL : 
    * Q2 2014/2015 sales 619.8 million Lithuanian litas ($217.20 
million) versus 552.01 million litas year ago 
    * Q2 2014/2015 net loss of 584,000 litas versus net profit 
13.3 million year ago 
    * Main reasons for growth in revenues was increased sales in 
grains and feedstuff and consolidation of new business segment 
food products within group 
    * Main reasons that negatively affected its profitability 
were decreased purchase prices for grain and milk and not 
confirming at governmental level the EU structural funds subsidy 
program for agricultural machinery upgrade 
 
Source text for Eikon:  ID:nVSE5Jvl  
Further company coverage:  LNA1L.VL  
 
($1 = 2.8536 litas) 
 
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 698 3920;))