The proportion of the Company's basic activities, if compared to the first three months of 2015, does not show any significant changes − the production and sale of bull semen comprised 49.9% of its net turnover in the accounting period, while the milk testing and data processing services collectively comprised 38.6% of the Company's net turnover.
Company's net turnover in the first three months of 2016 was 255.9 thousand euros, showing an increase of 1.3% against the corresponding period in 2015, whereas Company's profit before taxes was 28.1 thousand euros – by 132.1% or 16.0 thousand euros higher compared to the corresponding period in 2015.
The commercial profitability in the first three months of 2016 was 11.0%, compared to 4.8% in the corresponding period in 2015.
Profit or Loss Account for the Period Ended on 31 March 2016
2016 EUR |
2015 EUR |
|
Net sales | 255 909 | 252 541 |
Changes in stock of ready-made goods and unfinished products | (446) | 89 |
Other operating income | 2 988 | 922 |
Costs of materials: | (110 483) | (103 115) |
a) raw materials and auxiliary costs of materials | (83 341) | (74 939) |
b) other external costs | (27 142) | (28 176) |
Personnel costs: | (103 328) | (111 938) |
a) salaries for work | (81 245) | (88 895) |
b) state social insurance compulsory contributions | (18 049) | (19 621) |
c) other social insurance costs | (4 034) | (3 422) |
Write-off of assets and values: | (10 926) | (11 425) |
a) depreciation of fixed assets and amortization of intangible assets | (10 858) | (11 425) |
b) write-off of value of current assets above the normal deductions | (68) | - |
Other operating costs | (13 652) | (15 669) |
Other interest income and similar income | 9 452 | 1 785 |
Interest payments and similar costs | (1 394) | (1 072) |
Profit or losses before taxes | 28 120 | 12 118 |
Enterprise income tax for the reporting year | (6 555) | (3 804) |
Other taxes | (1 845) | (1 854) |
The profit or loss for the year | 19 720 | 6 460 |
Equity per 1 share (EPS) | 0.047 | 0.015 |
JSC ‘Siguldas ciltslietu un mākslīgās apsēklošanas stacija’ is one of the largest high-quality breeding bull semen producers and suppliers in Latvia. The second largest field of the Company’s basic economic activities is the milk testing services. The Company also provides other breeding related services – consultations on issues of cattle breeding, feeding and keeping, evaluation of cow exterior, artificial insemination of cows, initial processing of the monitoring data.
Valda Mālniece
Member of the Management Board, Manager of the Financial and Accounting department
E-mail: valda.malniece@sigmas.lv