Salacgriva, Latvia, 2015-08-31 15:14 CEST (GLOBE NEWSWIRE) --
MANAGEMENT REPORT
August 31, 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 the 1st half of 2015 the Company produced a total of 8.1 million cans of various types (139) of fish products, including 3.4 million cans of sprat. 6.2 million cans were sold for EUR 4.1 million.
The financial result of the 1st half of 2015 is a loss of EUR 79 849. These losses are from economic activities of the Company and are related with decrease of production and sales volume and currency fluctuations in the CIS countries.
Net turnover of the 1st half of 2015 is EUR 4 173 thousand.
Result of the 1st half of 2015:
Gross profit (EUR) 456 600
Gross profit (%) 10.94
The Company’s goal is to continue transformation in accordance with the EU quality requirements, real decrease the production expenses, to enable the Company to compete and strengthen its position on the market of canned fish. The Company continues work on adoption of new markets in Western Europe and other world in 2015. There were visited several food products exhibitions in Europe and in third countries in this period.
The JSC “Brivais vilnis” will continue cooperation with the “NASDAQ OMX Riga” JSC and remain listed in the free list of stock exchange in 2015.
The Company continues development of new products and works on improvement of quality of the current assortment and packing also in this year.
The Company was stopped the production to carry annual repair of factory and districts out and employees could take their leaves. On September 1, the Company will restart the production.
Arnolds Babris
Chairman of the Board
