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OLF: “Olainfarm” plans to maintain the sales growth and to open a representative office in Bangkok

Spekuliantai.lt | 2010-03-10 | NASDAQ OMX biržų naujienos | perskaitė: 1308
Raktiniai žodžiai: Olainfarm, OLF
OLF: “Olainfarm” plans to maintain the sales growth and to open a representative office in Bangkok

Olainfarm Company Announcement 10.03.2010

“Olainfarm” plans to maintain the sales growth and to open a representative
office in Bangkok

In 2010 JSC „Olainfarm” plans to maintain the level of sales growth achieved in
2009 and to earn higher profits than previous year. In 2009 net profit of
Olainfarm was 2.56 million lats (3.64 million euros), while the sales reached
22.4 million lats (32 million euros). The company intends to expand its
operations in the markets of Central Asia and to open a representative office
in Bangkok.

Unaudited profit and loss statement of Olainfarm for 2009 shows that the sales
of Concern reached 22.4 million lats (32 million euros). Net profit of the
Concern during this period was 2 560 492 lats (3 643 251 euros), while in 2008
the Concern made a loss of 1 436 905 lats (2 044 532 euros).

During 2009 the sales grew particularly strongly in markets where particularly
strong marketing effort was made. Sales to Russia grew by 33%, to Belarus by
10%, Kazakhstan and Azerbaijan both grew by 65%. Ukraine has become the second
biggest market for the company as about 14% of company's sales were made there.

During 2009 45 new registrations in 13 different countries have been approved.
Registrations have taken place in some countries that have so far been rather
exotic for company's sales, including Tajikistan, Turkmenistan, Poland, Albania
and Australia. Registration processes have also been launched in Romania and
Vietnam. . Products that are being registered include totally new names for
the company, like meldonium, olanzapine, amlodipine, flukonazole, terbinafine
and memantine. Good Manufacturing Practice certificate for production of 2 new
active substances has also been obtained in 2009.

________________________________________

AS „Olainfarm“ is one of the largest companies in Baltic countries with nearly
40 years of experience in production of medicines and chemical and
pharmaceutical products. The key principle of company's operations is to
produce reliable and effective top quality products for Latvia and the rest of
the world. Currently products of “Olainfarm” are being exported to more than
30 countries worldwide, including the Baltics, Russia, other CIS, Europe, North
America, Asia, Australia

Information prepared by
Salvis Lapins
JSC "Olainfarm"
Member of the Board
tel. +371 6 7013717,
cell: + 371 2 6448873
fax. + 371 6 7013777
[email protected]

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