Kalvenes street 27, Aizpute, LV-3456, Latvia, 2016-05-31 15:47 CEST (GLOBE NEWSWIRE) -- A/S KURZEMES ATSLEGA-1 Non-audited Financial Report for first 3 Months 2016.
The action type of the Joint Stock Company “KURZEMES ATSLEGA 1” has not changed during the 1st quarter of 2016 in comparison with previous periods of time: door locks, ironware, furniture fittings, forged products, production tools etc. are still being produced.
Net turnover has reached 354764 EUR in the 1st quarter of 2016 which is down by 135692 EUR or 27.7% in comparison with the same period of the last year. The first quarter of 2016 has finalized with losses in amount of 72633 EUR.
Average number of employees during the 1st quarter is 79.
Volume of sold production divides as follows:
-
sold in local market (Latvia) – 61.9 %,
-
EU - 35%
-
Export – 3.1%.
The Company has no tax and other arrears due to state and municipal budget.
Financial activity of the Company has provided mainly with its own assets, the loan facility in amount of 70000 EUR has been linked.
To ensure financial risk management JSC “KURZEMES ATSLEGA 1” follows-up the liquidity, regularly controls the cash flow of the enterprise. To achieve profitable activity, the board considers taking tight control over costs and should curtail expenses as well as find new outlets for the production.
| Nr. | Item | Note nr. | 31.03.2016 | 31.03.2015 |
| EUR | EUR | |||
| 1 | Net sales | 1 | 354764 | 490456 |
| 2 | Cost of sales | 2 | (393201) | (485479) |
| 3 | Gross profit | (38437) | 4977 | |
| 4 | Distribution expenses | 3 | (6629) | (10891) |
| 5 | Administration expenses | 4 | (22966) | (22745) |
| 6 | Other operating income | 5 | 2832 | 8174 |
| 7 | Other operating expenses | 6 | (5683) | (5280) |
| 8 | Income from participation in subsidiary capital | (70883) | (25765) | |
| 9 | Interest paid and similar expense | (338) | (443) | |
| 10 | Operating profit | (71221) | (26208) | |
| 11 | Extraordinary income | 0 | 0 | |
| 12 | Extraordinary expenses | 0 | 0 | |
| 13 | Profit before taxes | (71221) | (26208) | |
| 14 | Corporate income tax | 0 | 0 | |
| 15 | Other taxes | (1411) | (1330) | |
| 16 | Net profit for the year | (72632) | (27538) |
Loses per stock 31.03.2016 0.08 EUR
Loses per stock 31.03.2015 -0.02 EUR
Please see the file "KA1_NonAud-Fin_Report_2016-31-03.pdf" in attachment.
The Board
Irena Burve
Chief accountant
A/S Kurzemes Atslega-1
Kalvenes street 27
Aizpute, LV-3456
Latvia
Tel.: +371 63448075
Mob.: +371 26422198
E-mail: gramatv@ka1.lv
