Kalvenes street 27, Aizpute, LV-3456, Latvia, 2016-08-31 15:50 CEST (GLOBE NEWSWIRE) --
The action type of the Joint Stock Company “KURZEMES ATSLEGA 1” has not changed during the 1st half of the 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 730086 EUR in the 1st half of 2016 which is down by 15.4% or 133382 EUR in comparison with 1st half of 2015.
The 1st half of the 2016 has finalized with losses in amount of 96446 EUR.
Losses per stock 30.06.2016 - 0.11 EUR
Losses per stock 30.06.2015 - 0.04 EUR
Volume of sold production divides as follows:
-
sold in local market (Latvia) – 60.9% or 444962 EUR. This is by 38462 EUR less that in the 1st half of 2015;
-
EU deliveries -36.7% or 268149 EUR . 25923EUR This is by EUR less that in the 1st half of 2015;
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export – 2.4% or 17275 EUR, i.e. by 68997 EUR less than in the 1st half of 2015.
Currently 79 employees are being employed in company. Average amount of employees in 6 months of the 2014 was 93.
Average salary 504 EUR. In 6 months of 2014 – 466 EUR.
Company has no tax arrears. Financial activity of the Company has provided mainly with its own assets, the loan facility in amount of 70000 EUR has been linked.
To achieve profitable activity, the board considers taking tight control over costs and should curtail expenses. Work on market expansion is being continued.
Profit and loss account
| N. | Item | 30.06.2016 | 30.06.2015 |
| EUR | EUR | ||
| 1 | Net sales | 730386 | 863768 |
| 2 | Cost of sales | (763685) | (833441) |
| 3 | Gross profit or loss | (33299) | 30327 |
| 4 | Distribution expenses | (13185) | (21485) |
| 5 | Administration expenses | (43535) | (44027) |
| 6 | Other operating income | 7141 | 12554 |
| 7 | Other operating expenses | (10275) | (9795) |
| 8 | Interest paid and similar expense | (557) | (830) |
| 9 | Operating profit | (93710) | (33256) |
| 10 | Extraordinary income | ||
| 11 | Extraordinary expenses | ||
| 12 | Profit or loss before taxes | (93710) | (33256) |
| 13 | Corporate income tax | ||
| 14 | Other taxes | (2736) | (2654) |
| 15 | Deferred tax | ||
| 16 | Net profit or loss for the year | (96446) | (35910) |
Please find the file "KA1_Financial_Report_2016.30.06.pdf" in enclosure.
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
