20 July 2010
Landkom International (AIM: LKI LN) expects to break even on an EBITDA basis in 2010, due to reductions in operating costs. EBITDA for the six months ending April 30 showed a loss of USD 0.7 mln (vs. a loss of USD 12.6 mln in 1H09); the operating loss for the period was USD 4.2 mln (vs. a loss of USD 15.2 mln in 1H09; and the net loss was USD 4.4 mln (vs. USD 16.6 mln in 1H09). Landkom planted 40 ths ha in 2010, an increase of 38% y-o-y, the company reported along with its interim results this morning. Landkom said its harvest is underway for rapeseed. The company said it was on track to plant over 25 ths ha in fall 2010 for harvest in 2011 (up from 21.4 ths ha in fall 2009).