OREANDA-NEWS. March 2, 2010. In FY09 (October 2008-September 2009), Landkom International reduced its net loss by 27% to USD 40.3mn, though its net sales rose by 37%, y/y. At the same time, the Company increased the area of the land harvested by 65% to 29 thousand ha. The Company also announced its plans to increase the land harvested by 36% to 40 thousand ha and earn positive EBITDA in FY10 (vs. USD 21mn negative EBITDA in FY09).

Millennium Capital sees the news to be neutral for LKI in the short run. Despite the expected improvement in the operational activity in FY10, the Company may suffer net loss during this period, since LKI still bears high costs of their rent of non-harvested land (30 thousand ha).