| Emitents | Olainfarm, AS (213800WCG52W62ENOP27) |
| Veids | Finanšu pārskati |
| Valoda | EN |
| Statuss | Publicēts |
| Versija | |
| Datums | 2011-08-31 16:19:30 |
| Versijas komentārs | |
| Teksts |
In Olaine, on 31 August 2011
Olainfarm continues to set record profits: 3.2
million lats in 6 months
The consolidated profit or loss statement for the
Joint Stock Company "Olainfarm" Group's operation in the first 6
months of 2011 show that the Group continues to set record profits
by earning 3.2 million lats (4.6 million euros) during the first 6
months of the year. It is by 179% more than the first 6 months of
the previous year when profit reached
1.79 million lats
(2.55 million
euros).
These 6 months have been the most profitable period in the
company's history.
"We have had the most profitable 6 months' period in
the history of "Olainfarm" with profit reaching 63% of this year's
forecast and sales reaching 61%. We are confident regarding the
future that diversification of the markets and product portfolios,
active work with registration of new products and introduction of
such new products in the markets, as well as simultaneous cost
reduction in the company is a way for "Olainfarm" to continue the
current set of record profit," informs Valērijs
Maligins, Chairman of the Management Board of AS
"Olainfarm".
Turnover of AS "Olainfarm" has increased by
42% during the first 6 months of 2011, compared to the
respective period of the previous year, and has reached 17.8
million lats (25.4 million euros). The sales volume of AS
"Olainfarm" has almost doubled since the first 6 months
of 2007.
Sales of AS "Olainfarm"
increased during the first 6 months of 2011 in all main markets of
the company: ranging from an increase by 10% in Lithuanian up to
3,529 % in Canada. There is a considerable increase in sales in the
Netherlands – by 807%, Uzbekistan by 134%, Ukraine by 118% and the
United Kingdom by 100%. The programme of memantine was considerably
extended in Canada this year, and "PASS Nātrija sāls" (PASS sodium
salt) is exported to the Netherlands which was produced according
to orders from the World Health Organisation. The increased sales
in Ukraine were achieved partially by reviewing the product prices
and marketing costs. Increase in other countries was achieved
through sales of products on previous conditions.
Diversification of products offered by "Olainfarm" has
increased during the first 6 months of this year: top 10 products
make only 83% of total sales now.
Budget and operating plan of AS "Olainfarm"
for 2011 provides that the company's turnover in 2011
will be 29.4 million lats (41.8 million euros) with the profit
of 5.1 million lats (7.3 million euros).
According to unaudited accounts of the 1st quarter of 2011,
sales have reached 28% and profit 34% of the full year's
forecast.
Joint Stock Company "Olainfarm" is one of the
biggest companies in the Baltic States 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 AS
"Olainfarm“ are being exported to more than 30 countries,
including the Baltics, Russia, other CIS countries, Europe, North
America, Asia and Australia.
Additional information:
Salvis Lapiņš
Member of the Board
AS "Olainfarm"
GSM: +37126448873
Email: slapinsh@olainfarm.lv
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