Agriculture
July 15, 2011
Landkom International has posted the first positive EBITDA and net income in its history, according to its published 1H11 financial results. Landkom saw its revenues rise four-fold compared to 1H10, to USD 8.0mn. EBITDA was USD 5.1mn, vs negative EBITDA of USD 0.7mn reported a year before. Net profit for the period was USD 1.1mn, marking the first time that the company has been in the black since its IPO in 2007. We confirm our BUY recommendation on the LKI stock with a target price of USD 0.12 per share.
