Salacgriva, Latvia, 2014-11-28 07:49 CET (GLOBE NEWSWIRE) --
MANAGEMENT REPORT
November 28, 2014
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 2014 is the 23rd year of operation since the Company was transformed into a Joint Stock Company. In 9 months of 2014 the Company produced a total of 16.2 million cans of various types (150) of fish products, including 6.7 million cans of sprats. In 9 months of 2014 there were sold 15.5 million cans for EUR 8.9 million. The financial result of 9 months of 2014 is profit of EUR 313 703. This profit is from economic activities of the Company.
Net turnover for 9 months of 2014 is EUR 8 934 thousand.
Result for 9 months of 2014:
Gross profit (EUR) 1 155 thousand
Gross profit (%) 12.9
Operating results of the JSC “Brivais vilnis” compared to the previous year are less successful, as the Russian ruble depreciation has had some influence on them.
The Company’s goal is to continue transformation in accordance with the EU and third countries quality requirements.
We have started renovation of canned fish sterilization area that will increase production capacity and assortment.
The JSC “Brivais vilnis” will continue cooperation with the “NASDAQ OMX Riga” JSC and remain listed in Baltic Secondary list of stock exchange in 2014. The Company continues work on adoption of new markets in Western Europe and other world in 2014.
The Company continues development of new products and new packaging and works on improvement of quality of the current assortment also in this year.
Arnolds Babris
Chairman of the Board
