OREANDA-NEWS. Talsu mezrupnieciba, JSC Unaudited Interim report for 1 st quarter 2016.

In the 1st quarter of 2016 the net turnover was EUR 817 745. The result for 3 month of the year 2016 is profits EUR 54 766, wich corresponds to EUR 0.110 profits per share.

  The main activities of the Company in 2016 were logging and production of timber products: peeled and machine rounded poles production in timber processing unit.

 The result for 3 month of the year 2016 is profits EUR – 54 766   which, corresponds to EUR 0. 110 profits per share.

During 3 month of the year 14 711 m3 poles were produced in the timber processing unit and woodchips of

 4 983 m3 were sold.

 Total revenues for the Company during 3 month of year 2016 were 817 745 EUR . This compared to 2015 is about  0.58  % higher, but gross profit is  2.58 time higher.

The demand for products to England is positive.  

    2016                 2015
  Note EUR       EUR
Neto revenues 2 817 745    813 007
Costs of goods sold 3 (740 899)  (772 806)
Gross result   76 846      40 201
Administration expenses 4 (17 608)     (14 190)
Other operating income 5     448  
Other operating expenses 6   (1 690)       (4 961)
Financial income 7          1 426
Financial expenses 8  (1 973)         (867)
Profit (loss) before taxes     56 023      21 609
Deffered corporate income tax 9; 19    
Other taxes 18  (1 257)         (456)
Net profit (loss)    54 766      21 153

In the future the Company plans to continue the production of peeled and turn poles, increasing the proportion of timber purchased from small logging companies and private loggers, whose price offering is lower than that of VAS Latvijas valsts me?i. It is also planned to sell the produced goods to a wider network of clients, achieving the most beneficial sales price.

Please find attached Financial Report of 3 month 2016.