Olaine, May 13, 2012
“Olainfarm” plans to increase dividends, strengthens its
product portfolio in export markets
AS “Olainfarm” is currently finishing registration of capsules of
“Noofen” in Russia, plans to start selling capsules of
“Olvazol” in Ukraine in September and has started the registration
of “Neiromidin” in China, Chairman of the Board Mr
Valerijs Maligins told in his interview to portal naudaslietas.lv.
AS “Olainfarm” plans to gradually increase share of profit
payable in dividends, so that in more distant future it might be as
high as 90% of profit.
“More significant growth in the future could be achieved if we
through share issues purchase new companies,” says Valerijs
Maligins, Chairman of the Board of AS “Olainfarm”. “In order to
keep all financial options open, “Olainfarm” has to be
attractive for investors, therefore we will gradually increase the
portion of profit to be paid in dividends.”
At the moment most of company’s profit is being reinvested into
the company, for instance, soon the cogeneration project will
commence. Possibility of purchasing other producers of
pharmaceuticals, herbal medicines or elastic bandages is also
not
ruled out.
Currently AS “Olainfarm” is finishing the registration of
capsules of “Noofen” in Russia. According to company’s
forecasts,
in 5-6 years volume of sales of “Noofen” to Russia could reach 6
million euros.
Sales forecasts of AS „Olainfarm” for 2012 provides that
unconsolidated sales will reach 40 million lats (56.9 million
euros),
but consolidated sales will be as high as 47 million lats (66.9
million euro).
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
Member of the
Board
A/s
„Olainfarm”
Tel: +371 6 7013
717
Cell: +371 2 6448
873
E-mail: slapinsh@olainfarm
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