A Douglas-based firm which specialises in producing agricultural commodities in the Ukraine is blaming hail and heavy rain during harvesting for a poor rapeseed crop.
Landkom International, based in Hope Street, says the poor weather means it’s produced only 1.75 tonnes per hectare, compared to 2.5 tonnes last year.
As a result, it says the crop’s gross profit is expected to be around $3.1 million.
Because of that lower than expected revenue, Landkom’s board says it doesn’t expect to report a pre-tax profit for the this year.
Neil Balfour, Landkom’s chairman, says the company is undergoing a review of its business to consider a broad range of strategic alternatives.
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