Olainfarm Increases Sales to 37.7 Million Lats
OREANDA-NEWS. “We have experienced the most successful thirs quarter in our history, as sales to Ukraine are back to normal. Ukraine historically is one of the main markets of the company. In order to ensure a longer term development and growth we have this year completed nearly 30 registrations in 7 countries and started more registration processes in Turkey, Mongolia and Mexico. In cooperation with other producers we plan to strengthen and widen our geographical presence, especially in CIS countries,” says Valerijs Maligins, Chairman of the Management Board of AS “Olainfarm”.
During 9 months of 2013 sales to all company's main markets continued increasing except for Ukraine and the UK. The most rapid sales increases during the 9 months of 2013 were achieved to The Netherlands, where sales grew by 2685%, Spain by 202%, Belarus by 62%, Latvia by 32% and Uzbekistan by 20%. Major sales markets of AS “OlainFarm” during the 9 months of 2013 were Russia, Ukraine, Latvia, Belarus and Kazakhstan.
Annual meeting of shareholders of AS “OlainFarm” held on April 29, 2013 approved operating plan of the Concern. According to it, sales of the Concern in 2013 are planned to be 59 million lats (84 million euros), but the net profit will reach 11.5 million lats (16.4 million euros). According to this unaudited report for 9 months of 2013, during this period 64% of annual sales target and 54% of annual profit target is met.