Consolidated net profit shrank by an annual 8% to 9.911 million euros, the company said in its report for the nine months through September.
"Even though Russia's embargo dented the profitability of mushroom and manure sales, it remained positive. Year-on-year deterioration in performance of the dairy segment in the nine months of 2015 resulted from the food embargo imposed by Russia and from a slump in purchase prices triggered by the global milk supply glut. Meanwhile, the general profitability of grain sales improved substantially, supported by a more abundant harvest," the report said.
Baltic Champs Group, a company controlled by Lithuanian businessman Kestutis Juscius, on Oct. 20 held a 51.56% stake in Agrowill Group, which is listed on the NASDAQ Vilnius Stock Exchange and on the Warsaw Stock Exchange.
