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OLF: OlainFarm's Sales to Russia in 4 Months Increase by 42%

Spekuliantai.lt | 2009-05-19 | NASDAQ OMX biržų naujienos | perskaitė: 1325
Raktiniai žodžiai: Olainfarm, OLF
OLF: OlainFarm's Sales to Russia in 4 Months Increase by 42%

Olainfarm Company Announcement 19.05.2009

OlainFarm's Sales to Russia in 4 Months Increase by 42%

In his interview to journalist Anda Asere of newspaper “Dienas Bizness”
(published on May 19) Deputy CFO of Olainfarm Salvis Lapins informed that
during the first quarter of 2009 the company made more than 400 000 lats of net
profit and has seen the sales increasing in its major markets.

Sales increase that Olainfarm has experienced during 4 months of 2009 compared
to the similar period of 2008 in all its major markets, except Ukraine, has
been rather impressive: sales in Latvia have grown by 21%, Russia by as much as
42%, Belarus by 12%. Smaller markets have demonstrated good growth too, e.g.
sales to Azerbaijan have increased by 185%. „We have been generous in
investing and working with these markets in previous years to make our products
recognized and demanded. Professional work of the marketing company Trade
Technologies International, that we have chosen for this work must also be
praised“ S. Lapins explaind the achievements. „In Kazakhstan too this company
is involved in promotion of sales of our products and the results again are
impressive: secondary sales of our products during 4 months of this year have
doubled compared to 4 months of 2008.“

When asked about entering new markets, Salvis Lapins informs that currently the
representative office of Olainfarm in Viet Nam is being registered and the
first shipments to this country are planned for late 2009 or early 2010.

Deputy CFO of Olainfarm Mr. Lapins mentions „rapid increase in nervousness of
banks“ as one of main consequences of economic downturn felt by Olainfarm.
However, he still remains optimistic: „Many companies got scared by crisis and
they have been quick to reduce their marketing costs. We, however, have tried
to increase them. Our market share in our major markets is increasing because
we were less afraid of downturn than others were. I think we are going to come
out of this situation stronger than what we were when we entered it“


JSC Olainfarm is one of the biggest companies in the Baltic States with more
than 35 years of experience in production of medicines and chemical and
pharmaceutical products. The basic principle of Company's operations is to
produce reliable and effective top quality products for Latvia and the rest of
the world. Currently the products of JSC Olainfarm are being exported to more
than 30 countries worldwide, including the Baltics, Russia, CIS, Scandinavian
and other Western European countries, Asia and the USA.

Information prepared by:
Salvis Lapinsh
Deputy CFO
JSC Olainfarm
Rupnicu iela 5, Olaine
Latvia, LV 2114
Tel: + 371 6 7013 717
Fax: + 371 6 7013 777
Cell: + 371 2 6448 873
E-mail: [email protected]

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