Olainfarm Sells Products Worth 3.22 Million Lats

OREANDA-NEWS. May 16, 2012. Preliminary consolidated sales results of AS “Olainfarm” for April 2012 show that sales reached 3.22 million lats (4.58 million euros), which represents a decrease by 5% compared to the same period last year. Sales in Latvia have increased by 374%, significant shipments were also made to Uzbekistan, Switzerland and the USA. Major sales markets of AS “Olainfarm” during April 2012 were Russia, Latvia. Ukraine, UK, Belarus Kazakhstan and Uzbekistan.

Olaine, May 15, 2012, 2012-05-15 15:41 CEST (GLOBE NEWSWIRE) --  

According to the preliminary results, during four months of 2012 consolidated sales of AS “Olainfarm” were 15.25 million lats (21.70 million euros) – which represents an increase by 32%, compared to the same period of 2011.  The most rapid sales increases were achieved to the USA, where sales increased 344 times, Taiwan, where sales increased 13 times, and Latvia, where sales increased more than fourfold. Major sales markets of AS “Olainfarm” during this period were Russia, Ukraine, Latvia, Belarus, UK and Kazakhstan.

Sales of chain of pharmacies owned by AS “Olainfarm” during April 2012 were 0.52 million lats (0.74 million euros).  In four months of 2012, sales of pharmacies owned by AS “Olainfarm” were 2.12 million lats (3.02 million euros).

According to preliminary unconsolidated results sales of AS “Olainfarm” in April 2012 were 2.72 million lats (3.87 million euros), which represents a decrease by 19% compared to the same period one year ago.  Significant sales increase was achieved in Latvia, whjere sales grew by 28%.  The major sales markets of AS “Olainfarm” in April markets Russia, Ukraine, UK, Belarus, Latvia, Kazakhstan and Uzbekistan.

According to preliminary unconsolidated sales figures for four months of 2012, sales of AS “Olainfarm” were 13.2 million lats (18.78 million euros), which represents an increase by 14% compared to the respective period of 2011.  The most rapid sales increases were achieved to the USA, where sales increased 344 times, Taiwan, where sales increased 13 times. Major sales markets of AS “Olainfarm” during four months of 2012 were Russia, Ukraine, Belarus, Latvia, UK and Kazakhstan.

Sales forecasts of AS „Olainfarm” for  2012.gada provide that unconsolidated sales of the company will reach 40 million lats (56.91 million euro), while consolidated sales will reach 47 million lats (66.9 million euro) According to these preliminary unconsolidated sales figures, during four months of 2012, 33% of annual target for unconsolidated sales are reached.  According to the preliminary consolidated figures, during four months 32% of annual target for consolidated sales are reached.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company's operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.