JSC "Brivais vilnis" Releases Unaudited Interim Report for 9 months of 2015
, The types of activities performed by the JSC “Brivais vilnis” 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 2015 is the 24th year of operation since the Company was transformed into a Joint Stock Company. In 9 months of 2015 the Company produced a total of 10.4 million cans of various types (141) of fish products, including 4.8 million cans of sprat. In 9 months of 2015 there were sold 9.7 million cans for EUR 5.2 million. The financial result of 9 months of 2015 is a loss of EUR 165 141. These losses are from economic activities of the Company.
Net turnover for 9 months of 2015 is EUR 5 202 thousand.
Result for 9 months of 2015:
Gross profit (EUR) 572 thousand
Gross profit (%) 11.0
Operating results of the JSC “Brivais vilnis” compared to the previous year are less successful, because the total sales volume has significantly decreased as a result of the Russian embargo. The Company has not stopped the operation, it is working with pauses, according to orders received, mainly by using the fresh local raw materials. Due to the existing market situation, we believe that the most important is to keep existing customers and work on adoption of new markets. We are visiting and participating in food fairs in Western Europe and other world. The Company is looking for versions to optimize costs.
The Company continues development of new products and new packaging and works on improvement of quality of the current assortment also in this year. We are the leader in development of innovative packaging types.
The JSC “Brivais vilnis” will continue cooperation with the “Nasdaq Riga” JSC and remain listed in the Baltic Secondary list of stock exchange in 2015.