SAF Tehnika JSC net sales for the financial year 2009/2010 were LVL 10.23 million (EUR 14.55 million) representing a 16% increase compared with the previous financial year’s net sales.

Aggregate export sales for the reporting period were LVL 10.03 million (EUR 14.27 million) comprising 98.08% from total net sales.

The net profit of the Company for the financial year 2009/2010 was LVL 1.487 million (EUR 2.116 million). This is an excellent result taking into account that the previous financial year was closed with LVL 1.117 million (EUR 1.589 million) loss. The result proves that the Company’s strategy towards development of a new CF IP product line, expansion of direct sales, investments into product marketing, cost savings into production and operations was right and has provided SAF Tehnika a more stable position with positive perspectives. The invaluable work and loyalty of the Company’s employees also has to be mentioned as a key to success.

SAF Tehnika continues to pursue its established course, taking into account its stable financial position, control over the production process and CFIP product development.

The Board is proposing to retain 54% of current year’s profits in order to preserve the Company’s financial stability and to pay out remaining 46% in dividends.

 

Aira Loite

CFO

+371 67 046 833