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JSC "Brivais vilnis" Unaudited Interim Report for 6 months of 2018
Emitents Brīvais vilnis, AS (48510000158QBL0AK019)
Veids 1.2 Pusgada finanšu pārskati un revīzijas ziņojumi / ierobežotas pārbaudes
Valoda EN
Statuss Publicēts
Versija
Datums 2018-08-31 16:44:51
Versijas komentārs
Teksts

MANAGEMENT REPORT

August 31, 2018

The types of activities performed by the JSC “Brivais vilnis” (the Company) are processing and canning of fish and fish products, wholesale of food products and other commercial activities classified nowhere else. On May 14, 2002 the Company was registered in the Common commercial register of the Republic of Latvia.

Year 2018 is the 27th year of operation since the Company was transformed into a Joint Stock Company.

In the 1st half of 2018 the Company produced a total of 6.3 million cans of various types (147) of fish products, including 2.7 million cans of smoked sprats. Canned fish have been sold for EUR 3.7 million that is by 19% more than in the first half of 2017.

The financial result of the 1st half of 2018 is a loss of EUR 316 thousand. These losses are from economic activities of the Company. In the fish industry, the price dumping and the struggle on the market are taking place.

Net turnover of the 1st half of 2018 is EUR 3.7 million.

Result of the 1st half of 2018:                            

Gross profit of EUR 197 264.

The Company’s goal is to continue transformation in accordance with the EU and third countries quality requirements, reducing production costs to enable the Company to compete and strengthen its position in existing and new markets of canned fish. The Company continues work on adoption of new markets in Africa and South America.

The Company continues to work on development of new types of products. We are working on improvement of quality of the current assortment and introduction of new, innovative type of packaging.

At the end of June, the Company stopped the production to carry annual repair of factory and districts out, employees could take their leaves and to realize the stock of produced canned fish. On the 3rd of September, the Company will restart production of canned fish, in order to ensure fulfilment of orders.

The Company is a leader in product quality, it makes production only from natural raw materials and doesn`t use synthetic food additives and genetically modified products.

 

Arnolds Babris

Chairman of the Board

Pielikumi