Olaine, May 31st, 2012
“Olainfarm” makes another record profit: 2.4 million lats
in first quarter
Consolidated profit and loss account of AS „Olainfarm” for the
first quarter of 2012 shows that the Concern has set yet
another profits record of 2.4 million lats (3.4 million
euros). This is an increase by 40% compared to the first
quarter of
2011 when the company made the net profit of 1.7 million lats (2.4
million euros). This has so far been the most profitable
quarter in corporate.
Unaudited profit and loss statement of AS "Olainfarm" for
the 1st quarter of 2012 shows that sales were 12.1 million lats
(17.2 million euros), This is an increase by 48% compared to
1st quarter of 2011 when sales of AS “Olainfarm” were 8.2
million lats (11.6 million euro).
“Results of the first quarter confirm ability of “Olainfarm” to
continue increasing sales and profits not only in foreign
markets. In Latvia, through our retail network we have
increased our sales fourfold and are still growing. These
developments had allowed us to pay dividends for the second time,”
says Valerijs Maligins, Chairman of the Management Board.
During 1st quarter of 2012 sales continued increasing to all key
markets except Belarus. The most rapid sales increases
were
achieved to USA, where sales grew 267 times, Taiwan 13 times,
Latvia more than fourfold, Georgia more than threefold, and
Ukraine where sales grew by 81%. Major sales markets of AS
“Olainfarm” in three months of 2012 were Russia, Ukraine,
Latvia,
Belarus, Kazakhstan and the UK.
According to budget and operating plan of AS “Olainfarm”, sales
of the Concern in 2012 are planned to be 48 million lats
(68.3 million euros), but the net profit will reach 8.6 million
lats (12.24 million euros). According to the unaudited
report for 1st quarter of 2012, during the first three months 25.1%
of annual sales target and 28% of annual profit target
is met.
In 1st quarter of 2012 the Concern consists from parent company
a/s „Olainfarm”, its daughter companies SIA „Ozols JRD”,
whose major activities will be related to organizing sports and
active leisure events in Olaine, daughter company „Olainfarm
Enerģija”, that will be engaged in production of electric energy
using cogeneration technologies, travel agency „First Class
Lounge” and pharmaceutical retail companies SIA „Ilmas Aptieka”,
SIA „Juko 99”, SIA „Veritas Farm”, SIA „Inula Farma”,
a/s „Lege Artis” and SIA „Vita Plus”. In February 2012, shares in
SIA „Teriaks Pļaviņu Aptieka” were also purchased.
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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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