Lesy ČR to post first-ever loss

Published: 14.08.2019 Related countries:  New Zealand New Zealand, Australia Australia

The Czech forest management company Lesy ČR is heading into the firs-ever loss since its establishment due to the bark beetle, but also the obligation to pay profits.

Forest management company Lesy ČR is heading into the first-ever loss since its establishment due to the bark beetle, but also the obligation to pay profits, writes Hospodářské noviny. Since 2013, the company paid CZK 32 bn to the government, i.e. almost all of its profits. Lesy ČR spokeswoman Eva Jouklova said the company anticipates a loss of CZK 840 m. In the course of 2019, the firm negotiated overdraft loans with banks.

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