| Emitents | Olainfarm, AS (213800WCG52W62ENOP27) |
| Veids | Finanšu pārskati |
| Valoda | EN |
| Statuss | Publicēts |
| Versija | |
| Datums | 2010-11-30 16:28:34 |
| Versijas komentārs | |
| Teksts |
Olaine, November 30, 2010
Success in Exports Allows Olainfarm to Exceed
its Annual Profit Target in 9 Months
Consolidated profit and loss statement of AS „Olainfarm”
for three quarters of 2010 shows that the net profit of the company
was 2.84 million lats (4.04 million euro). This represents an
increase of 122% in profits and of 24% in sales compared to nine
months of 2009. In the third quarter alone profit of a/s
„Olainfarm” was by 130% bigger that during the third quarter of
2009 and reached 1.04 million lats (1.49 million euro). These
results reflect the successful operations of „Olainfarm” on foreign
markets, returns from investments in product promotion, new
products and launches in new markets..
“This has clearly been the best third quarter in history
of the Company. 2010 is particularly successful year for a/s
„Olainfarm”, as in nine months we have exceeded the profit target
for the year. Besides, increase in exports has allowed us to
reduce prices for our products in Latvia, thus making them more
affordable for people. Financial results make us set even
higher goals and push the growth levels further," says Valerijs
Maligins, Chairman of the Board of a/s „Olainfarm”.
Unaudited profit and loss statement of a/s "Olainfarm"
for nine months of 2010 shows that the sales of group reached 18.84
million lats (26.81 million euro), which is an increase by 24%
compared to nine months of 2009 when the sales were 15.19 million
lats (21.62 million euro). Groups after tax profit during
this period was 2.84 million lats
(4.04 million euro). This is by
122% more than during similar period last year, when the net profir
of a/s „Olainfarm” was 1.28 million lats (1.82 million
euro).
During the reporting period significant increases in
sales continues in all key markets of Company, except
Latvia. Sales to Uzbekistan grew by 154%, to Moldova by 92%,
Belarus by 56%, Kazakhstan by 54%, Georgia by 33%, Russia by 30%,
and Ukraine by 24%. Sales grew by 3% even in Lithuania where
there was actually a decrease in sales in 6 months of 2010 compared
to 6 months of 2009. Sales in Latvia are also gradually
recovering, compared to the previous quarters of this year and
Latvia has become the fourth biggest market for the
Company.
Annual General Meeting of Shareholders of „Olainfarm”
held on April 29, 2010 approved the operating plan of the
company. According to it, the forecast sales of the Concern
for 2010 are 24.5 million lats (34.9 million Euro), but the net
profit is forecast at 2.7 million lats (3.8 million Euro). During
the first nine months of 2001 Company’s sales were 77% of the
annual target, while the net profit reached 105% of annual
target. Therefore in terms of sales the Company operates
rather closely to the plan, while in terms of the net profit it has
in nine months exceeded its target for the entire
year.
A/s Olainfarm is one of the biggest pharmaceutical
companies in Latvia with nearly 40 years of experience in
production of medication and chemical and pharmaceutical products.
A basic principle of company’s operations is to produce reliable
and effective top quality products for Latvia and the rest of the
world. Products made by the Group are being exported to more than
30 countries of the world, including the Baltics, Russia, other
CIS, Europe, Asia, North America and Australia.
Information prepared by:
Salvis Lapins
JSC "Olainfarm"
Member of the Board
Cell: + 371 2 6448873
|
| Pielikumi |