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Olainfarm Tentatively Plans the Sales Increase of 3% for 2016

on December 23, 2015

Preliminary plans of JSC Olainfarm for 2016 provide for sales increase of 3% while profit could remain at the levels forecast for 2015 of 15 million euros, or even slightly shrink. More precise forecasts will be approved by an AGM of Olainfarm to be held in June 2016.

Annual General Meeting of shareholders of JSC Olainfarm, held on June 11, 2015 approved operating plan of the company, according to which the unconsolidated sales of the company in 2015 will reach 87 million euros, while consolidated sales will reach 100 million euro. According to these preliminary sales figures, in eleven months of 2015, the company has attained 91% of annual target for unconsolidated sales and 90% of annual target for consolidated sales.

In eleven months of 2015 according to preliminary results, consolidated sales of JSC Olainfarm have reached 90.19 million euros, which represents an increase by 6% compared to the same period in 2014. According to preliminary figures the unconsolidated sales of the company have reached 79.59 million euros, which represents an increase by 8% compared to eleven months of 2014.

 

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 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 40 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 Management Board
Rupnicu iela 5, Olaine, Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: Salvis.Lapins@olainfarm.lv

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