LV: Latvian State Forests net profit down by 34% y/y in 2011.

By bne IntelliNews July 17, 2012
According to the companys announcement, net profitof the state-owned agency Latvijas Valsts Mezi (Latvian State Forests) amounted to LVL 51mn (EUR 72.6mn) in 2011, going down by by 34% y/y. Company's turnover in 2011 slipped by 0.6% y/y to LVL 215mn. LVM paid LVL 34.7mn in taxes in 2011. LVM is in charge of managing state forestry, dividing timber quotas, etc, overlooking more than 1.6mn ha of land. Its shares are held by the Ministry of Agriculture.

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