LKI Landkom

TIDMLKI

RNS Number : 2128H

Landkom International Plc

25 May 2011

25 May 2011

Landkom International PLC

Spring planting completed - total land planted up 30% to 52,000 hectares

Landkom International PLC (AIM: LKI, "Landkom" or "the Group""), the Ukrainian producer of agricultural commodities, has completed its spring 2011 planting campaign. 23,100 hectares (ha) of land were planted. Along with the 28,856 ha planted in autumn 2010, the Group has now planted a total of approximately 52,000 ha for this summer's harvest, up 30% year on year and up 80% on 2009.

The 23,100 ha of spring planting was completed within the optimal planting window. Approximately 10,400 ha of maize, 5,100 ha of spring wheat, 2,500 ha of spring rapeseed, 2,000 ha of sunflower, 1,800 ha of soybean, 600 ha of spring barley, 300 ha of other cash crops and 400 ha of non-cash crops were planted. The autumn planting of 28,856 ha was mainly winter wheat (13,149ha) and rapeseed (12,862ha).

Including the winter planting, the Group has now planted 39,100 ha of crops in the western region, 6,600 ha in the southern region and 6,300 ha in the central region.

The substantial increase in land planted has been achieved with minimal capital expenditure. The Group has now planted 70% of its available land bank.

The Group's harvesting operations are likely to commence in the southern region by the end of June.

Vitaliy Skotsyk, Landkom Chief Executive, commented:

"Over the last 18 months we have repositioned the business, improved cost efficiency and rebalanced the mix of crops to make the business model more sustainable.

"This successful spring planting campaign is a clear demonstration that we were well prepared in terms of both machinery and soil cultivation. This has meant that we were able to plant 70% of our land bank and increased the total land cultivated by 80% since 2009. With continued higher commodity prices, we look forward with increasing confidence this year."

For further information:

 
 Landkom International PLC 
 (www.landkominternational.com) 
 Vitaliy Skotsyk, Chief Executive                             +380 5 0352 5029 
 John Mapplebeck, Finance Director                         +44 (0)20 7726 2690 
 
 Liberum Capital 
 Simon Atkinson/Richard Bootle                             +44 (0)20 3100 2000 
 
 College Hill 
 Adrian Duffield/Rozi Morris                               +44 (0)20 7457 2020 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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