| Emitents | Olainfarm, AS (213800WCG52W62ENOP27) |
| Veids | Finanšu pārskati |
| Valoda | EN |
| Statuss | Publicēts |
| Versija | |
| Datums | 2009-11-30 09:20:52 |
| Versijas komentārs | |
| Teksts |
Olaine, November 30, 2009
Olainfarm makes 1.3 million lats profit in 9
months
Consolidated profit and loss statement of Olainfarm for
nine months of this year shows the net profit of 1 279
106 lats (1 820 004 euros). In the third
quarter alone Olainfarm has made 454 399 lats (646 552
euros). Improvement in financial performance reflects the
successful operations of Olainfarm in Latvian and export markets
and proves the efficiency of sales promotion activities that the
company has been conducting and still continues in Russia and other
CIS markets.
Unaudited profit and loss statement for 9 months shows
AS "Olainfarm" shows the company’s sales of 15.2 million lats (21.6
million euros), which is only by 0.5% less than in nine months of
2008 when sales reached 15.3 million lats (21.7 million euros).
After tax profit of the company during this period was
1 279 106 lats (1 820 004
euros), while a year ago the company worked with the
net los of 1 352 930 lats (1
925 046 euros).
““Olainfarm” has managed to achieve the record profits
in times when most of our export markets are shrinking. To a large
extent this is the result of timely investments in product
promotion in Russian and other CIS markets, successful work at
introduction of new products and cooperation with partners that has
resulted in several sizeable contracts. Third quarter covers
only a portion of such contract with Poland. Remaining sales of
medicines to Poland and Bulgaria, as well as supplies of chemical
products to our clients in the UK, with the total value exceeding 1
million euros have already taken place in the fourth quarter and
will be covered by our annual report," says Valerijs
Maligins, Chairman of Olainfarm’s Management Board.
The development of 9 months also confirms the increase in
sales to countries where strengthened marketing effort has been
made. Nine months sales to Moldova have increased by 21%,
Russia by 27%, Kazakhstan by 42% and Azerbaijan even by
104%. Small increase has been achieved even in Latvia, where 9
months sales have increased by 0.5% compared to similar period of
2008.
The biggest decreases in sales to the regular markets of
Olainfarm have been seen in Belarus (by 4%), Ukraine (by 13%) and
Uzbekistan (by 16%). Some decrease in sales has also been observed
in some other markets with smaller influence on overall sales of
Olainfarm, including Estonia, Lithuania and Tajikistan. In all
of major Olainfarm’s markets the trend has been that even if
Olainfarm’s sales to these countries have fallen, the
pharmaceutical markets of these countries themselves have fallen
even sharper.
JSC Olainfarm is one of the biggest companies in the
Baltic States with more than 35 years of experience in
production of medicines and chemical and pharmaceutical products.
The basic principle of Company's operations is to produce reliable
and effective top quality products for Latvia and the rest of the
world. Currently the products of JSC Olainfarm are being
exported to more than 30 countries worldwide, including the
Baltics, Russia, CIS, Scandinavian and other Western European
countries, Asia and the USA.
Information prepared by
Salvis Lapins
JSC "Olainfarm"
Deputy CFO
tel. +371 6 7013717,
cell: + 371 2 6448873
fax. + 371 6 7013777
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| Pielikumi |